LG Electronics has tapped Stripe, a global financial infrastructure platform for businesses, to power payments and the checkout experience for its newest online brand store in Singapore that launched in September.
Gerald Chun, managing director of LG Electronics Singapore, said that their new online store offers enhanced convenience and personalised shopping experiences to customers.
LG revamped its website to enhance the online shopping experience in Singapore, where eCommerce penetration rate is approximately 60% and customer expectations are high.
The electronics company wanted to make it easier for customers to shop for the latest products directly with LG from the comfort of their homes.
Given the diverse, local and international backgrounds of their customers, LG needed international payments acceptance, which enables customers to check out with the payment method of their choice.
The integration with Stripe included an intuitive checkout experience built using Stripe Payment Elements, better authorisation rates, wider acceptance of international cards, and fraud prevention with Stripe Radar.
With Stripe, LG customers are now able to pay securely online with credit and debit cards, Apple Pay, Google Pay and PayNow. The integration provides LG with a unified view of its revenue flows from multiple payment methods in a single dashboard.
“A smooth online shopping experience builds trust with demanding customers, especially when buying big ticket items like home entertainment and appliances,” said Sarita Singh, Managing Director for Southeast Asia at Stripe. “LG is enhancing this experience so their customers can purchase with peace of mind.”