With online services and shopping expanding year-on-year, there is a growing demand for tools allowing smoother e-transactions.
Digital dollar signs
Stripe has established a reputation of providing clients with easier ways to charge customers online and is taking another step forward by launching a new billing product for e-transactions.
The intended goal is to replace analog and physical methods of invoicing in favour of subscription tools, making for easier product charging directly through Stripe.
According to Stripe OM Tara Seshan, “If you’re [running a small operation], you should have the same subscription tools as Spotify.” The idea is that standardisation is the key to online speed and flexibility.
Handy for companies big and small
Larger companies have similar tools in place, but it remains a challenge for SMEs to daisy chain effective online payment tools and generate revenue immediately.
Stripe’s solution is an all-in-one product that can handle the online side of any given business. Stipe offers one-time, recurring, usage-based, and tiered pricing services that a client can pick from.
The company has reported an average of 10% increase in revenue for their clients, making the implementation appealing. As the economic infrastructure of online shopping continues to evolve, other companies could be offering similar services.
Do you have an online business? Have you had similar issues in the past? What do you think about the new Stripe tools? Let us know in our comment section.