Our key takeaways from Stripe Tour London:
Recently, we had the privilege of being invited to this year’s Stripe Tour conference in London.
This event brings together world-leading brands and innovators of change to network and share thought-provoking ideas across multiple industries. We’ve shared our key takeaways from the event below to give more insight into the world of payments and consumer experience.
The UK has a total of 26 Unicorns - private start-up companies that have been valued at 1 billion dollars or more, and half of these run payments through Stripe. In fact, 4,600 businesses join Stripe every week and 100,000 of these businesses are situated in London alone.
Though Stripe was founded in 2009 it continues to look for new avenues for innovation, and these industry-shifting start-ups can be a great source of inspiration. Unicorns are a key part of our digital economy and are actively changing consumer behaviour including the way we pay, the way we shop (both online and in-store), the way we travel in the form of electric vehicles and so much more. Looking to their success as an indication of future and current demand may help established brands keep up to date.
Though Unicorns are often associated with innovation and are becoming a key indicator of consumer trends, innovation shouldn’t just be limited to start-ups. In fact, 20% of the FTSE 100 are currently using Stripe and are invested in finding new ways to accelerate growth and improve customer experience. Established brands are able to take advantage of their existing resources from data to relationships, experience to infrastructure, making them perfectly placed to bring new ideas to fruition
Head of Technology Solutions at Nando’s, Reg Meyer once stated that “reducing the number of technical integrations is freeing. Less integrations mean more freedom.” In the past, Retailers of all sizes and industries have used specific technologies for specific functions. This, at least for Reg Meyer, meant his teams were operating old user interfaces at the point of sale, and lacked the flexibility needed to explore new horizons and respond to consumer demand.
Reducing the number of integration partners allowed Nando’s to focus on getting the best out of their partnerships and in turn, freed them from the pressure of maintaining and upkeeping multiple integrations. Single relationships don’t necessarily restrict functionality. The key is to find a partner that can offer multiple functions that are able to facilitate your innovation and offer your consumer a more seamless experience.
We’d like to say a big thank you to those at Stripe for inviting us to this eye-opening event. It was a joy to see them showcase new features, outline roadmaps and network with fellow innovators and Stripe partners. If you’d like to learn more about how our partnership with Stripe could make your vehicle sales process easier, get in touch with a member of the team.
If you’d like to hear more insights from Automotive Transformation Group such as consumer search trends and industry statistics, follow our company page on LinkedIn.