Digital commerce is enabling businesses to rethink what they sell, how they sell, and where they sell. Fickle consumer and business buyers have come to expect an intuitive and instantaneous checkout process with multiple payment options. However, aging financial infrastructure and complex interdependencies between numerous parties make it difficult and expensive to accept payments online seamlessly and across markets and currencies.
Stripe meets these challenges with an API-based payments platform that abstracts away the complexities around payment gateways, acquiring banks, and credit card networks. To understand the impact of Stripe’s products on processing online payments, IDC interviewed Stripe customers and surveyed hundreds of organizations around the world about how they currently process and manage online payments.
Many organizations are using Stripe as a foundational platform for their online businesses, with many of those also using Stripe Connect to run their online marketplaces, which facilitates transactions between third-party buyers and sellers.
On average, organizations using Stripe attributed a revenue increase of almost 7% to the Stripe platform.
IDC calculates that Stripe customers will lower their processing costs of online transactions by 24% over five years by using Stripe, and organizations using Stripe will incur significantly lower costs compared with a broader set of surveyed organizations accepting payments for their online businesses.
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