Leading fashion, sports and lifestyle retailer, The Iconic has partnered with technology company, Stripe, to optimise the payment experience for customers across Australia and New Zealand.

The Iconic chose Stripe to deliver greater payment choice for customers, as well as increased revenue through improved conversion and acceptance rates.

Stripe will provide the payments infrastructure to power transactions processed through The Iconic’s site, offering customers a flexible suite of payment methods.

Stripe will provide a secure, smoother and faster payment experience thanks to Adaptive Acceptance, which reduces instances of legitimate transaction rates being inadvertently declined by using machine learning and Stripe’s extensive historical data.

This helps merchants accept as many legitimate transactions as possible, to increase revenue and improve the customer checkout experience. 

Stripe Australia and New Zealand head of growth, Hayley Hopwood said, “Adaptive Acceptance enables The Iconic to capture more revenue by reducing transaction abandonment, which, on average industry-wide, is estimated to happen about 7 out of 10 times.”

The Iconic chief financial officer, Paul Irving added, “Ensuring that our customers have the choice to use their preferred method of payment is important to us. Partnering with Stripe enables us to seamlessly offer additional payment methods and gives us confidence that we can quickly adapt to further innovation in payments acceptance.

“Like us, Stripe has a strong focus on innovation and is the best at what they do. We are excited and look forward to the partnership.”