LG Electronics taps Stripe for e-commerce payments

“LG’s new online store allows us to offer enhanced convenience and personalised shopping experiences to our valued customers. Our partnership with Stripe underscores our unwavering commitment to fulfilling the needs of our digitally savvy clientele. We remain steadfast in our pursuit of innovation to ensure the highest levels of customer satisfaction,” expressed Gerald Chun, Managing Director of LG Electronics Singapore.

Making it easier for customers
LG revamped its website to enhance the online shopping experience in Singapore, where eCommerce penetration rate is approximately 60% and customer expectations are high. The company wanted to make it easier for customers to shop for the latest products directly with LG from the comfort of their homes. Given the diverse, local and international backgrounds of their customers, LG needed international payments acceptance, which enables customers to check out with the payment method of their choice.

For the launch of its online brand store, LG turned to Stripe as a secure and reliable payments infrastructure partner that could help them innovate quickly and ensure optimal customer experience especially during the peak sales season.

Building trust with payments innovation
The integration with Stripe included an intuitive checkout experience built using Stripe Payment Elements, better authorisation rates, wider acceptance of international cards, and fraud prevention with Stripe Radar.

With Stripe, LG customers are now able to pay securely online with credit and debit cards, Apple Pay, Google Pay and PayNow. The integration provides LG with a unified view of its revenue flows from multiple payment methods in a single dashboard.

“A smooth online shopping experience builds trust with demanding customers, especially when buying big ticket items like home entertainment and appliances. LG is enhancing this experience so their customers can purchase with peace of mind,” said Sarita Singh, Managing Director for Southeast Asia at Stripe.

Since its launch last month, LG is already seeing positive results from its online store traffic and plans to work with Stripe in more countries worldwide.