Challenge

Touting the many benefits of compact electric vehicles over personal, unused transportation, felyx launched in 2017 with 100 scooters across Amsterdam. Looking to launch and establish its business quickly, it initially partnered with Stripe. In just 3 years, the company has experienced 25x growth and expanded to 10 cities. As felyx scaled internationally, it needed a solution to seamlessly integrate with its systems and provide an efficient, secure payments experience for their riders. Arthur Bloemen, Product Owner at felyx, explains, “One of Stripe’s key strengths is how easy it is to integrate into our products and backend.”

Solution

Local payment preferences vary in different countries across Europe. Stripe enabled felyx to offer a public mobility solution with preferred payment methods that riders recognise and trust locally. felyx is also able to offer mobile wallets, which allow riders to check out 3x faster. To reduce failed payments, felyx have integrated Stripe’s Adaptive Acceptance solution, which uses machine learning models to selectively retry payments declined by the issuers in real time, before a response is returned to the customer. Stripe dynamically adjusts different factors in the payment request to increase the chances of acceptance, experimenting with dozens of issuing banks at the same time to understand what results in a successful payment—all within milliseconds.

Results

Stripe has enabled felyx to offer a seamless payments experience and accelerate international growth. Because Stripe supports 40+ different payment methods, localising the checkout experience during expansion has been simple. “Stripe has great test accounts and payment details to help us easily validate the integration,” says Pauline Brouwer, felyx’s Financial Analyst. Afer implementing Stripe’s Adaptive Acceptance, felyx has also experienced a 5.49% revenue boost.

Leverage Stripe to focus on the core business

Thanks to Stripe, felyx has saved over 2,000 internal developer hours on payments. Now, the company can focus on growing and differentiating its business. “By using Stripe, we can easily add key payments functionality into our business without spending development time on this. We know we won’t differentiate ourselves with an invoicing module; instead, we can focus our time on having a reliable, user-friendly interface for our customers,” Bloemen says.