Online payment service Stripe releases over 50 new features all at once



Online payment service Stripe announced at its annual conference ' Stripe Sessions 2024 ' that it has updated the app with more than 50 new features, including the addition of AI tools to check for fraud and upgrades to pay-as-you-go billing. At the time of writing, there are more than 250 new features scheduled to be released, and the ones announced this time are just a part of them.

Stripe Sessions: 50+ announcements, including AI-powered payments, major upgrades to Connect, interoperability, and more
https://stripe.com/jp/newsroom/news/sessions-2024



Our biggest product updates from Sessions 2024
https://stripe.com/blog/biggest-updates-sessions-2024



Stripe, doubling down on embedded finance, de-couples payments from the rest of its stack | TechCrunch
https://techcrunch.com/2024/04/24/stripe-doubling-down-on-embedded-finance-de-couples-payments-from-the-rest-of-its-stack/

Stripe has announced a new feature in its Optimized Checkout Suite that uses AI to determine and present the best payment method for each customer. Payment methods that will be supported include Amazon Pay, Revolut Pay , Zip , TWINT , Swish , and more.

Stripe also said that they will be able to customize the payment methods displayed at checkout based on the size of the transaction, currency, and location of the buyer directly from the dashboard. They will also be able to A/B test payment methods from the dashboard without writing any code. Stripe says that 'businesses that move to the Optimized Checkout Suite see an average increase in revenue of 11.9%.'



Regarding strengthening fraud prevention using AI, online fraud is expected to increase by 11% in 2023, while it will decrease by 10% for companies using Stripe Radar , which uses machine learning to detect fraudulent credit card use. Stripe has now announced the launch of 'Radar Assistant,' which allows users to set fraud rules in natural language. By introducing Radar Assistant, you can backtest new rules to see if they block fraud without increasing false positives.

Stripe Connect is also getting a major upgrade, adding 17 embeddable components in 118 countries to make it easier for platforms to integrate financial services into their sites, and giving platforms more flexibility in which features they want to keep and which they want to offload to Stripe.



Additionally, the new Meters API will enable you to charge customers in real time based on how much they use your product, and you can import transactions from the Apple App Store and Google Play to consolidate revenue recognition.

In response to complex revenue models, Stripe has started to fully support 'pay-per-use' billing, which charges according to usage. Customers' product and service usage will be tracked within Stripe, and charges will be made based on that. Stripe Tax will expand to 57 countries, and in the United States, it will also support automatic registration and filing of tax returns. According to Stripe, Anthropic, which actually provides Claude 3, uses Stripe Billing to manage subscriptions and automates invoice issuance with Stripe Invoicing .



In terms of integrations with other payment providers, Stripe's three core products - Optimized Checkout Suite, Stripe Billing and Stripe Radar - are now available to businesses that process payments with other payment providers, allowing large businesses to take advantage of Stripe's products without violating their existing contracts.

Strengthening the partner ecosystem, the number of apps in the Stripe App Marketplace has increased from 70 to 150, with new apps for Salesforce, Netsuite, and Adobe. Stripe Terminal now works with Oracle OPERA, Teamwork Commerce, Erply, and other services. In addition, American Express has joined the Enhanced Issuer Network , a partnership between Stripe and card companies.

A detailed list of updates is summarized on the changelog page below.

Stripe Blog: Changelog
https://stripe.com/blog/changelog



'Our mission is to grow the Internet's GDP. Stripe's strategy is to listen carefully to the needs of the world's most sophisticated and innovative businesses. In 2024, Stripe is well positioned to help users navigate an increasingly complex payments environment and leverage AI to drive growth. We're also making Stripe more modular so businesses can use only the parts of Stripe that are most useful to them,' said Stripe's Patrick Collison.

Related Posts:

in Web Service, Posted by log1i_yk