Digital Transactions Authoritative, insightful and timely information for payments professionals
Stripe Inc. has expanded its partnership with Thinkific Labs Inc., a platform for creating, marketing, and selling online learning products, to distribute Stripe Apps to its network of instructional course creators. The agreement makes Thinkific the first platform provider supporting embedded payments to distribute Stripe’s apps to its customers.
Gaining access to Stripe Apps will help Thinkific’s course creators speed checkout through such apps as Stripe Link, which allows businesses to store a consumer’s payment information to enable one-click checkout. Access to Stripe Apps will also enable Thinkific course creators to accept local European payment methods, which can significantly increase conversion rates at checkout, and provide access to buy now pay later options through Affirm Inc., Afterpay Ltd., and Klarna AB.
Having the ability to offer BNPL payments is expected to help Thinkific creators sell higher priced items and increase the overall ticket sizes. Course creators offering BNPL through Stripe during the trial period saw consumers that used BNPL to finance purchases spend five times more than customers that did not, Thinkific says.
Thinkific, which has used its existing partnership with Stripe to make it possible for course creators to set up and accept payments faster, reduce the time spent on subscription and refund administration, and increase checkout conversions, has more than 50,000 active course creators on its platform.
“Stripe’s mission and roadmap is well aligned with ours, which has allowed us to move very fast. Our development slate has been strong and that’s only going to continue with the most exciting product to be announced in the coming months,” Peter Fitzpatrick, Thinkific vice president and head of commerce, told attendees at Stripe’s user conference Tuesday.
Stripe plans to make Stripe Apps available to other platform providers later this year.
