US payments giant Stripe is aiming to expand its presence in Asia by introducing a range of new AI features designed to enhance cross-border commerce in the region.
Last year, Stripe reported a growth of over 30% in cross-border payment volume in Asia. Its Optimised Checkout Suite now utilizes AI to determine the most suitable payment methods for individual customers. This allows businesses to conduct no-code A/B tests for payment methods—an exclusive offering from Stripe.
Additionally, the company’s Adaptive Pricing feature localizes prices in 150 markets, including Australia, Hong Kong, India, Japan, Malaysia, New Zealand, Singapore, and Thailand, enabling customers to complete transactions in their local currency. Research indicates that when given the choice, 90% of customers prefer to check out in their local currency, and businesses utilizing this feature see an average increase of 18% in cross-border revenue and an 8% boost in conversion rates.
Stripe has also rolled out AI-driven tools aimed at reducing fraud, such as Radar Assistant, which allows businesses to set custom fraud rules using natural language prompts.
Moreover, expanded market coverage now enables US merchants to accept payments from South Korean customers.
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