• Over 66% of businesses plan to expand their sales into new markets by 2025, amid technical concerns regarding the ability to accommodate different payment methods based on customer preferences in each country.
  • The Adaptive Pricing feature allows businesses in Thailand, Australia, India, Hong Kong, Japan, Malaysia, New Zealand, and Singapore to provide a payment experience tailored to customers in each country, covering over 150 countries.
  • It also eliminates the need for businesses to manually calculate product prices in multiple currencies and to constantly monitor fluctuating exchange rates.
  • Product and service prices will be displayed in local currencies, enabling customers to pay as they wish, and allowing businesses to easily test expanding into other countries.

Stripe, a global leader in financial infrastructure services for businesses, has launched the Adaptive Pricing feature to facilitate businesses in Thailand and the Asia-Pacific region, enabling them to accept payments from customers in their preferred local currencies.

According to a study by Stripe in 2023, over 66% of businesses plan to expand their sales into new markets by 2025. However, a significant barrier identified is the ability to accept payments that align with customer preferences in each country. To address this issue, Stripe has introduced the Adaptive Pricing feature, which allows businesses in countries such as Thailand, Australia, India, Hong Kong, Japan, Malaysia, New Zealand, and Singapore to display prices in local currencies for customers in over 150 countries worldwide. Additionally, it enables the addition of local payment options, ensuring that customers have the choice to pay in their own currency using popular payment methods they are already familiar with. Stripe's study found that when such options are available, 90% of customers prefer to pay in their local currency.

Valerie Wagoner, Head of Product for the Asia-Pacific region at Stripe, stated, "Online consumers are increasingly purchasing goods from abroad, especially consumers in the Asia-Pacific region, which presents a great opportunity for businesses to adapt their payment methods to align with consumer preferences in each country. We have found that revenue from cross-border trade for businesses using Adaptive Pricing has increased by an average of 17.8%, reflecting the benefits of providing services that truly meet the needs of customers in each country."

Stripe users worldwide who are already using Checkout or Payment Links can easily activate Adaptive Pricing with just one click on their dashboard. More information can be found at https://docs.stripe.com/payments/checkout/adaptive-pricing.You can view the Adaptive Pricing animation here.