Stripe boosts cross-border commerce in Asia with AI-powered payments

By Gloria Methri

Stripe has expanded its market coverage and AI-powered payments to support cross-border commerce in Asia. The updates were part of Stripe Tour Singapore, the company’s annual product showcase in the region.

“Last year, cross-border payment volume in Asia on Stripe grew more than 30%. Building on that momentum, we’re equipping businesses with tools to accelerate their revenue growth, including an optimized checkout suite, the ability to show local prices to customers, and advanced fraud prevention tools. This will help Asian businesses to boost their revenue,” said Sarita Singh, regional head and managing director for Southeast Asia, India, and Greater China at Stripe.

Stripe’s Optimized Checkout Suite, which enables businesses to build a high-performing checkout flow, now uses AI to determine which payment methods to show for any given customer. Businesses can also run no-code A/B tests for payment methods—an industry first, available only on Stripe.

These features complement Stripe’s new Adaptive Pricing feature, which localizes prices across 150 markets, including Australia, Hong Kong, India, Japan, Malaysia, New Zealand, Singapore, and Thailand, allowing customers to pay in their local currency. Adaptive Pricing removes the need for businesses to manually price in multiple currencies and keep up with fluctuating exchange rates.

Stripe has also introduced AI-powered tools to help combat fraud, including Radar Assistant. Businesses can use natural language prompts to describe new fraud rules they would like to set, and the assistant will draft regulations accordingly. The rules can then be tested against previous payments to see if they boost revenue and block fraud without increasing false positives.

More localized payment experiences and expanded market coverage

At the Singapore tour, Stripe also announced its expanded market coverage in South Korea, enabling US merchants to accept payments from South Korean customers. The payments are facilitated through a new partnership between Stripe and NICEPay that gives buyers in Korea a fully localized payment experience and gives US entities access to robust ecommerce markets worldwide.

This agreement includes more than 20 card brands, four local wallets, and end-to-end settlement and reporting—all without requiring businesses to set up a Korean entity. Stripe also expects to expand its coverage of local payment methods in Indonesia next year.

The company announced additional partnerships, including with LG Electronics, which launched its online brand store in Singapore and plans to work with Stripe in more countries worldwide. M1 Limited, a mobile network operator in Singapore, will work with Stripe to enable new consumer experience channels. The regional ride-hailing app TADA will partner to expand into more Southeast Asian markets.