Integration is to power transaction settlement services for merchants and consumers on SoPa’s ecosystem
Southeast Asia’s loyalty, fintech and e-commerce ecosystem Society Pass Incorporated (“SoPa”) announced the integration of Stripe’s financial infrastructure solutions onto the SoPa platform on 28 November.
The integration is to power transaction settlement services for merchants and customers on SoPa’s ecosystem, the company said in a statement.
Leveraging Stripe’s cutting-edge technology solutions, Society Pass said it expands the product and geographical reach of its ecosystem, simplifies payment flows, and accepts payments at scale in multiple currencies. In addition, SoPa leverages Stripe’s anti-fraud technology, Stripe Radar, to detect and block fraud using machine learning. Merchants on SoPa’s ecosystem utilise Stripe’s payment infrastructure to accept credit and debit cards payments from customers, enable their customers to checkout in a simple way, and at the same time provide a superior shopping experience to consumers.
Rokas Sidlauskas, Chief Marketing Officer of Society Pass, said, “We are thrilled to announce this integration with Stripe which provides diverse payment options to our consumers whilst streamlining the process for merchants to manage their finances and get paid faster. Since our incorporation, Society Pass has redefined the e-commerce experience for millions of registered consumers and hundreds of thousands of registered merchants in SEA. By offering convenience, flexibility, and control on both sides of the retail transaction, SoPa paves a win-win path for our merchants and consumers alike. Partnering with Stripe is an organic path to accelerate this goal”.
As a global financial infrastructure platform, Stripe makes it easy for companies to launch, run and scale their business from day one. Stripe offers a broad set of software tools, including services like built-in-machine-learning powered fraud protection, advanced analytics and infrastructure that makes it easy for businesses of all sizes to scale locally and internationally, while reducing the time and resources spent on payments so they can focus on their core business.
Society Pass’ first-in-class ecosystem transforms the entire retail value chain towards a more digital future in SEA. Looking ahead, SoPa said it will continue to simplify the use and access to online shopping, leveraging cutting edge technologies and capabilities to tailor more intelligent, individualized, and contextual experiences for the next generation consumers.