Stripe launches Adaptive Pricing, enabling merchants in 50+ countries to offer local currency options, boosting cross-border revenue by 17.8%. With 90% of shoppers preferring to check out in their local currency, businesses can increase global sales.
On August 7, 2024, Stripe introduced Adaptive Pricing, a feature that helps businesses present prices in buyers' preferred local currencies. Merchants in over 50 countries can now turn on Adaptive Pricing with a single click on their Stripe dashboard.
Stripe’s research shows that 90% of customers prefer to pay in their local currency when given the choice. This option leads to an average 17.8% increase in cross-border revenue for businesses using Adaptive Pricing. This feature also unlocks local payment methods like Alipay and WeChat Pay, making transactions smoother and more accessible.
Adaptive Pricing automatically enables various local payment options, such as Bancontact, EPS, iDEAL, P24, SEPA Direct Debit, and more. This is a significant advantage for businesses targeting international markets, where local payment methods are often a preference or requirement.
Abhinav Tiwari, product lead for Stripe’s optimized checkout suite, highlighted the simplicity of this new feature, stating, “It’s surprising how low the low-hanging fruit in payments really is.” With more online shoppers purchasing internationally, Stripe’s Adaptive Pricing offers a critical tool for businesses looking to increase their global reach.
Will Adaptive Pricing change how businesses approach global sales?
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