Stripe, a prominent financial infrastructure platform, has entered into a strategic partnership with Australia's leading local streaming service, Stan, to power its online payments and subscription billing. Established in 2015, Stan offers Australians extensive access to exclusive shows, original productions, movies, and sports content, all delivered without ads. With a focus on enhancing customer experiences and expanding its subscriber base, Stan has adopted Stripe’s advanced payment solutions to improve authorization rates and minimize involuntary churn.
John Hogan, CTO of Stan, highlighted the importance of intuitive and secure billing processes in delivering high-quality user experiences. Through the integration of Stripe Billing, along with features like Adaptive Acceptance, Network Tokens, and Smart Retries, Stan has already seen a 1% improvement in payment success rates and anticipates significant annual savings via least-cost routing. Karl Durrance, Stripe’s Managing Director for Australia and New Zealand, expressed enthusiasm about the collaboration, emphasizing the shared commitment to scaling Stan’s streaming business efficiently. This partnership positions Stan to better meet the evolving demands of the Australian streaming market, where nearly 90% of consumers hold a streaming subscription.
