Challenge

With Jobox, service professionals like electricians and locksmiths can use a free app with low processing rates to build their business. Jobox was looking for a way to deliver a simple, end-to-end payment process for its users to accept payments on the job, then distribute funds into their bank accounts. Initially, Jobox used a third party to distribute funds to users, but this method became too complex as demand for Jobox’s app grew. Jobox needed a single solution to streamline how users could accept payments and control the flow of their funds.

Solution

Jobox implemented multiple Stripe products for a streamlined payment ecosystem with simple integrations. Stripe Connect enables Jobox to seamlessly embed payments into its app so service professionals can accept payment from customers while remaining compliant with Know Your Customer (KYC) obligations.“From the engineering side, it’s been easier to integrate with Stripe’s API than other tech partners,” says Kaushik Pendurthi, Jobox’s Chief Operations Officer.

Jobox chose Stripe Radar to add a layer of protection for its users by detecting and blocking fraud using machine learning trained on data across millions of companies. Radar also minimizes customer disputes by deploying early dispute notifications to help surface fraudulent charges before they’re disputed. Jobox uses Stripe Terminal to enable Jobox users to efficiently collect payments on the spot with pre-certified card readers, which has also helped decrease dispute rates, lower costs, and increase revenue for Jobox.

Results

After implementing Stripe, Jobox’s transactions skyrocketed from $1M per month to approximately $25M monthly transactions. Additionally, the ability to accept on-site payments through Terminal has reduced dispute rates by 19%. With Stripe, Jobox can offer a digital platform for service professionals that gives them greater control of their funds and improved visibility into their transactions. This transparency and user experience have boosted customer trust, leading to new customer acquisition and retention.

Jobox will also implement Stripe Treasury & Issuing to offer even more financial solutions to enable its users to expand their offerings. With new tech solutions, the company can accelerate growth, cementing itself as the primary tool for service techs to run and grow their business.