Asian e-commerce fintech integrates with Stripe

Southeast Asian e-commerce and loyalty fintech, Society Pass Incorporated (SoPa), announced it has integrated Stripe Inc’s payments infrastructure with its platform offering transaction settlement services.

The integration expands SoPa’s reach across the region and will help streamline payment flows, process payments at scale in multiple currencies and leverage anti-fraud technology to detect and prevent fraudulent payments using machine learning.

Merchants using SoPa’s platform will also have access to Stripe’s payment solutions to accept credit and debit card payments from customers and ease the checkout process.

“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,” Rokas Sidlauskas, Chief Marketing Officer at Society Pass, said.

“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.”

Since it was launched in 2018, SoPa has expanded its operations to include Vietnam, Indonesia, Philippines, Singapore and Thailand, and gained over three million registered customers and over 200,000 registered merchants and brands.

The firm said the Stripe integration is the first step in its journey towards transforming the “retail value chain” for “a more digital future in Southeast Asia”.

“Looking ahead, SoPa will continue to simplify the use and access to online shopping, leveraging cutting edge technologies and capabilities to tailor more intelligent, individualised and contextual experiences for the next generation consumers,” it said in a statement.