Stripe Automatically Updates Credit Card Info for E-Merchants
Stripe is an ecommerce payment platform that has become a favorite among online merchants. The newest program from Stripe automatically updates a shopper’s credit card information when he or she gets a new card number. This streamlines the shopping process and could also make the transition to chip-and-PIN cards much easier for both consumers and retailers.
Known as “smart saved cards,” this feature provides merchants with an opportunity to quickly gather payments from customers, even after they have replaced their credit card numbers. As long as the linked account information remains the same, Stripe will populate the new card data onto the website and create a clean path for the new transactions.
“There’s no extra work required, and this feature works with most MasterCard, Discover, and Visa cards—without this improvement, over half of the cards stored with Stripe in the last year would expire by 2016 if they weren’t updated,” the company said on its blog.
Now merchants can continuously charge their customers for renewed services and subscriptions without worrying about credit cards expiring or being replaced. When more banks issue new credit cards for customers to update to EMV card standards, the numbers will transition in Stripe’s system without any extra effort.
With innovations like these, Stripe is making it easier for e-merchants to get their money and customers to get the products and services they desire.