Elastic Path Partners With Stripe To Provide An Integrated Best-in-Class API-First Commerce and Payments Solution
Elastic Path, the creator and leader of the Composable Commerce Movement, launched Elastic Path Payments, powered by Stripe, a global technology company that provides economic infrastructure for the internet. Increasingly, brands are leveraging modern best-of-breed payments solutions in conjunction with their commerce solutions, but it can be complex to navigate a multi-vendor approach. Elastic Path Payments simplifies this by providing a single pre-integrated solution with ongoing support.
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With Elastic Path Payments, brands can facilitate complex checkout processes across customer touchpoints or geographical markets and drive revenue growth. IDC’s analysis found that Stripe customers saw clear benefits to their bottom line, increasing their revenues by 6.7%. With Elastic Path Payments, customers can expect the same revenue generating customer experiences and also benefit from the holistic support a single vendor provides.
The benefits of this solution include higher checkout completion rates, increased payment acceptance, and lower fraudulent transaction rates. Elastic Path Payments addresses every stage of the checkout process, ensuring brands are ready for success. Features include:
- Seamless online checkout: Offer a checkout experience in 25+ languages, 135+ currencies, and dynamically show the payment methods most likely to improve conversion. Provide up to a 46% increase in sales after enabling local payment methods.
- Fraud management: Increase top-line revenue with decreased false positives on credible transactions. Every year, businesses lose an estimated 3% of their revenue due to false declines.
- Network-wide acceptance: Avoid declines due to network issues or unrecognized cards with automated re-tries and credentials updates.
- Powering global brands: Offer payment acceptance in 185 countries and 135+ currencies.
- Best-in-class security: Compliance with the most current standards, including PCI DSS Level 1, PSD2 (EU), and SCA.
- Unified reporting: Centralized dashboard for real-time metrics reporting.
- Payment methods for all business models: Subscriptions support, Alternative Payment Methods (wallets like Apple Pay, Google Pay, etc.), Buy Now Pay Later payment methods, POS machines, and more.
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In addition to the functional benefits, Elastic Path Payments customers will also benefit from a dedicated Customer Success Manager from Elastic Path, who will share a deep knowledge of all facets of their eCommerce solution.
“Partners like Elastic Path are giving businesses more options to get started on Stripe quickly,” said Dorothy Copeland, Global Head of Partner Ecosystem & Alliances at Stripe. “Both Stripe and Elastic Path are aligned on empowering users with expanded tools that accelerate online commerce, and we’re proud to scale our efforts with the kickoff of this partnership.”
“Elastic Path Payments builds on our commitment to remove the barriers of embracing a Composable Commerce approach, regardless of a brand’s digital maturity,” said Harry Chemko, co-founder and Chief Strategy Officer at Elastic Path. “Now eCommerce teams are able to more easily power engaging customer experiences that increase revenue, conversion, and loyalty.”
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