At the Money 20/20 event, Stripe discussed the opportunities in the ASEAN region and Thailand, highlighting the growing potential of the digital economy in the near future. They emphasized the importance of cross-border business strategies in Thailand and the region as a whole, showcasing the increasing interconnectedness.
Stripe made its debut in Thailand in 2022 and presented Jim Thompson as a customer who switched to using Stripe for a better customer experience. They noted that Jim Thompson’s abandonment rate decreased from 60% to 20% after utilizing Stripe, aiming to facilitate international customer acquisition for businesses.
While Stripe has supported PromptPay since its launch in Thailand in 2022, the current support remains limited. For instance, QR codes generated can be paid multiple times until receiving excess funds, unlike Singapore’s PayNow, which allows for single payment transactions. The Stripe management expressed willingness to receive feedback and improve their services moving forward.
TLDR: Stripe, at Money 20/20, discusses digital economy growth in ASEAN and Thailand, showcases customer success with reduced abandonment rates, and acknowledges areas for improvement in service offerings.
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