Australian fashion retailer The Iconic has struck an agreement with payments processor Stripe to create a faster checkout experience for its customers.
Stripe will run the payments infrastructure for The Iconic, and intends to provide Australian and New Zealand customers a greater choice of payment options.
The Iconic selected Stripe to improve its revenue optimisation through Stripe’s adaptive acceptance technology, according to a statement.
Adaptive acceptance is said to use machine learning and historical data to reduce payment declines and ensure the legitimacy of payments.
The technology is anticipated to have a positive impact on The Iconic's revenue.
The Iconic's chief financial officer Paul Irving said in a statement that the partnership with Stripe allows the retailer “to seamlessly offer additional payment methods” and to “quickly adapt to further innovation in payments acceptance."