Stripe Streamlining Subscription Management in Europe
FACTS
- The American e-payment FinTech Stripe keeps rolling out their offers globally. Latest service to date, Stripe Billing, has now landed in Europe.
- This service is mostly intended for e-merchants, helping subscription specialists streamline recurring billing processes.
- Stripe bets on Machine Learning tools ensuring a dynamic management of billing procedures.
- This innovative solution issues invoices through interactive payment pages, instead of typical static invoices.
- Stripe Billing already complies with the European strong authentication standard (SCA) to be effective as of September the 14th, i.e.: it complies with PSD2 requirements.
CHALLENGES
- Streamlining billing processes for online subscription services. In Europe, the subscription sector has been experiencing an even faster growth than in the US. With Stripe Billing, European companies are provided with an advanced invoicing tool, likely to help them comply with regulatory requirements.
- According to Stripe, the subscription-based e-commerce sector grew by more than 100% each year over the past five years: 32% of the customers would rather subscribe for goods than make one-off purchases.
MARKET PERSPECTIVE
- This American unicorn is valued at $20 billion, and further aims for global reach. Prior to addressing the European market, Stripe Billing was launched in the US in 2018.