Shoplazza is a SaaS company specialising in the development of products and technical solutions for global e-commerce. Founded in July 2017, the company offers e-commerce businesses a convenient, fast, and flexible solution for going global. Operating in over 180 markets, Shoplazza serves more than 500,000 businesses in the United States, Canada, the Middle East, Europe, and the Asia-Pacific region. Its services reach more than 1.5 billion customers. Shoplazza was recognised as one of the most influential entrepreneurial companies by Fortune China in 2023.

Challenge

As Shoplazza expanded, it needed to provide secure, efficient and convenient payment solutions to hundreds of thousands of businesses in different countries and regions. This became a pressing concern, alongside the intense competition it faced in the global e-commerce market. As a result, Shoplazza had to eliminate bottlenecks in its online and offline ecosystem to ensure a seamless payment experience and facilitate global payments. These aspects were important to Shoplazza’s comprehensive international e-commerce strategy.

Shoplazza was eager to build a comprehensive payment solution that would align with its business development, and ultimately increase customer acquisition rates, expand revenue streams, provide a seamless user experience, improve payment conversion rates, and efficiently manage inventory and operations.

Solution

After extensive research and comparison, Shoplazza decided that Stripe – which supported over 135 currencies and 100 payment methods globally – was the best fit for its business needs, including the need for globalisation and internationalisation. Shoplazza also appreciates Stripe’s APIs, which offer a wide range of powerful features and do not require complicated coding. This enables rapid expansion by reducing the time it takes to build a product and allowing for custom development and personalised settings.

In addition, Shoplazza has maintained a trusting and collaborative relationship with Stripe since 2019. Shoplazza values how Stripe continuously improves its technology, as well as its reliable technical support team and excellent product scalability.

“After conducting in-depth research and comparing various global payment technology companies, we concluded that Stripe is the leader in technology,” says Vivian Xu, Shoplazza’s head of financial services. “Having completed the project, our confidence has only grown. The standout feature of Stripe’s products is its modularity, which provides flexible configuration options and makes product assembly as simple as assembling building blocks. This makes integrating our technology easy, as well as maintaining and updating features."

Shoplazza partnered with Stripe professional services for guidance and expertise throughout the planning, implementation, and launch of Shoplazza Payments. Stripe professional services deeply analysed Shoplazza’s requirements to design a smooth cross-country funds flow and optimised pricing and monetization strategies, ensuring that the overall solution met the company’s compliance and risk requirements.

Results

Launched Shoplazza Payments in just three months

Shoplazza Payments uses Stripe's global payment network and diverse product offering to provide a fast, secure, real-time, and one-stop payment solution: Shoplazza Payments.

By seamlessly integrating Stripe Connect into Shoplazza’s software products, Shoplazza Payments can offer a wide range of global payment options to meet the diverse payment and settlement needs of businesses across multiple industries. Shoplazza uses platform payment monetisation, adds new business types, and combines offline payment terminal products to create unified commerce and drive revenue growth.

Shoplazza Payments also provides businesses with real-time settlement and multi-account management, ensuring funds are secure and payments are received quickly. Shoplazza Payments provides detailed payment data and analytics in its backend dashboard to help businesses better understand user payment behaviour and optimise their sales strategies.

Shoplazza has used Stripe’s API interface for custom development to achieve personalised settings in the payment flow, eliminating cumbersome payment processes and high costs. Businesses can simply enable the payment feature in the user interface to gain access. They can also customise payment methods based on their brand image and user needs to enhance the user experience and increase customer loyalty.

“We developed a powerful payment product in just three months – one month earlier than expected – which was a truly amazing achievement that wouldn’t have been possible without the professional and efficient support from the team at Stripe,” says Xu.

Improved fraud management and tax support

Additionally, Stripe Radar helps Shoplazza monitor and score transactions for risk in real time based on different countries, business models, and transaction types. There is no need for businesses to take action, as the system automatically updates itself to promptly respond to card network rules and balances chargebacks and payment security, significantly reducing fraud management costs.

Stripe Tax helps businesses on the Shoplazza platform quickly understand tax regulations in different countries. It helps automate tax management and calculates, collects, and remits taxes for global payments to ensure tax compliance with regulatory authorities.

The majority of Shoplazza’s users were willing to pay for its payment solution

The successful launch of Shoplazza Payments represents the future development of Shoplazza. Working with Stripe has enabled Shoplazza to support a wide range of local payment services including credit cards, e-wallets, instalment plans, and buy now, pay later options in key markets such as Europe, the Americas, the Middle East, Latin America and Asia Pacific. The service was up and running in just four business days, helping businesses on the platform expand across multiple target markets and drive business growth.

Stripe helped Shoplazza seamlessly integrate with multiple acquirers, which enabled direct payments and made electronic payments more convenient and efficient, ultimately increasing payment success rates for businesses. Stripe's multi-account management feature meets the diverse needs of businesses, encourages multiple purchases, significantly reduces administrative costs, increases store sales, and improves the overall customer experience, resulting in improved user engagement. Since its launch, 93% of businesses have expressed interest in using Shoplazza Payments, and 85% of businesses said that they were willing to pay to use it.

Stripe helped Shoplazza modernise its product portfolio, successfully creating a self-contained, open market operations (OMO) shopping platform that integrates online and offline channels. It also developed a closed-loop product-on-demand (POD) business model based on customised products, including a POD supply chain, marketing, and payment to enable customised products to go global and enable businesses to quickly expand new opportunities.

“In terms of payment success rate, Stripe maintains its leading position in global payments,” Xu says. “Whether it's generating orders or transactions, Stripe is far ahead in terms of payment success rate. The collaboration between the two parties is also a great example of working together to create a blended product with a value that is greater than the sum of its parts.”

The company plans to continue working with Stripe to further explore banking-as-a-service, while focusing on digital finance and building an efficient and fully operational end-to-end industry chain that includes customer acquisition, marketing, logistics, payments, and financial services.