Stripe Vying To Become Backbone Of Social Ecommerce
The payment processor announced a new API that allows merchants to place buy now buttons on social networks, as well as third party websites.
Stripe's foray into social commerce joins the likes of Google, Twitter, Pinterest and Facebook; as the industry struggles to find a way to leverage their large mobile audiences into customers.
With over 60% of traffic on shopping sites coming from mobile devices, conversions from that traffic is a mere 15%. With lots of room for growth, mobile e-commerce is definitely on the radar of many retailers, but the variety and inconsistency of multiple platforms is a major hurdle for businesses to overcome.
Stripe hopes to change that with their new Relay API, which will allow retailers to sell their entire catalogue in multiple locations on a single integration.
Facebook, Twitter and Pinterest have all experimented with Relay to power social commerce on their platforms.
Posted on Sun, September 20, 2015
by Jonathan Kervin