Shoplazza Payments powered by Stripe provides real-time insights into e-commerce operations and improves the acquisition and settlement of online orders for businesses.
Shoplazza, a Canadian e-commerce store website builder platform, announced its partnership with the leading fintech, Stripe, to develop a new payment product, which is seen as key to the firm’s global growth.
Shoplazza Payments is marketed as “a comprehensive, one-stop payment solution, which creates a seamless online and offline ecosystem for the entire e-commerce process.” The offering is part of the company’s comprehensive international e-commerce strategy and an effort to remain competitive in the intense global market.
Founded in July 2017, the SaaS company specialises in the development of products and technical solutions for e-commerce businesses to go global seamlessly. It serves over 500,000 businesses across the United States, Canada, the Middle East, Europe, and the Asia-Pacific region.
To enhance its web-building services, Shoplazza decided to introduce a payment tool with the perceived benefits of increased customer acquisition rates, expanded revenue streams, seamless user experience, improved payment conversion rates, and efficient inventory and operations management.
The startup chose Stripe, which supports over 135 currencies and 100 payment methods globally, to enable its new payment solution. The fintech unicorn provided its guidance and expertise throughout the planning, implementation, and launch of Shoplazza Payments.
The solution powered by Stripe Connect and Stripe Radar features real-time settlement, multi-account management, detailed payment data and analytics in its backend dashboard, personalised settings in the payment flow, real-time risk assessment, automated tax management, and more. It supports a wide range of local payment services including credit cards, e-wallets, instalment plans, and buy now, pay later options in key markets.
According to the press release, 93% of Shoplazza’s business clients have expressed interest in using the new Payments solution, and 85% of businesses were willing to pay for it. Due to cooperation with Stripe, Shoplazza can now help businesses on its platform expand across multiple target markets and drive business growth more efficiently.
The two companies have a continuous history of successful cooperation on other projects tracing back to 2019. Shoplazza plans to continue working with Stripe to further explore banking-as-a-service
Vivian Xu, Shoplazza’s head of financial services, specifically praised the modularity of Stripe’s products, which provides flexible configuration options and enables quick and easy integration, customisation and updates. Due to this feature, the project development took only three months, exceeding Shoplazza’s expectations.
