Stripe upgrades payments with AI

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At its annual Stripe Sessions event, Stripe unveiled several new products and updates designed to make online payments faster, safer, and more flexible, especially for businesses operating internationally.

One of the most important announcements was Stripe’s new AI model specifically built for payments.

This model was trained on billions of past transactions, helping it detect fraud much more accurately than before. 

For example, it’s able to identify subtle clues that indicate whether someone is using a stolen credit card. 

In fact, Stripe claims it improved fraud detection for large companies by 64% almost immediately. This means fewer fake charges and better protection for both businesses and customers.

Stripe also introduced “stablecoin-powered” accounts and multicurrency cards. Stablecoins are digital currencies that are tied to real-world currencies like the US dollar. 

By partnering with other startups, Stripe is making it easier for businesses in different countries to operate using the same digital currency, which can cut down on conversion fees and simplify accounting.

Another new offering called Orchestration will help businesses manage multiple payment providers from one place, even if they don’t use Stripe directly. This gives companies more control and flexibility over how they process payments globally.

Stripe is also expanding how it helps businesses with billing. 

For example, Nvidia, a major tech company, recently moved all of its subscribers to Stripe’s billing system in just six weeks, a process that usually takes months.

Stripe’s billing tools are now being used by major AI companies like OpenAI and Anthropic.

On top of that, Stripe introduced new features like:

• Support for 25 more payment types, including UPI (India) and PIX (Brazil).
  
• The ability to use Stripe with third-party payment hardware, starting with Verifone.
  
• A new “Managed Payments” service that helps businesses handle global taxes, fraud, and shipping.
  
• “Smart Disputes” to handle payment disputes using AI.
  
• Stripe Tax, now available in 102 countries.
  
• A new “Global Payouts” feature to send money anywhere using just an email address.

All these updates aim to make Stripe even more useful for businesses of all sizes around the world.

What do you think about AI for helping with payments? Tell us what you think below in the comments, or via our Twitter or Facebook.