Wednesday, September 16, 2015

Stripe Introduces New Tools to Simplify Mobile Shopping

Ordering products online is simple and easy, yet ordering these same products on a smartphone from the manufacturer’s website is not, mainly due to the phone’s size. This article highlights a new product called Relay, made by the company Stripe, which allows retailers to sell their goods to customers through smartphone apps and social networks like Facebook and Twitter, and makes the checkout process for customers simple and easy.
There are three things the article talks about which I found to be interesting. First, the article explains how an eyeglass company by the name of Warby Parker could use Relay to sell a pair of eyeglasses to customers. Making it easier for customers, Parker, through Relay, can sell their glasses on Twitter, and a Twitter user with a couple of taps on their smartphone could purchase them directly from the social networking website. It saves the customer time by not having to go through Warby Parker’s main website. In the end, it is a great idea and benefits all parties.
Another point I found to be interesting was the fact the company is trying its best to expand to bigger, more successful stores such as Macy’s and Saks Fifth Avenue. Although it will be more difficult to partner up with them than Warby Parker, they are still aiming for it. Should these stores sell their products through sites like Twitter with the assistance of Relay, I believe more people will purchase these store’s products due to the easiness of the process. Again, it will benefit the stores, Stripe, and the customers.
The last point that caught my eye was Stripe is already working with advertising companies that have advertisements inside numerous smartphone apps, trying to make it possible for consumers to purchase products directly from the ad itself. While reading the article, I thought it would be amazing to purchase products directly from Twitter, but from an advertisement is even faster and easier. It is good to see that Stripe is trying to go a step further.
Although I enjoyed the article, I feel as though it left out a few things. First, how does one exactly order the product directly from Twitter? I understand the simplicity, but the article failed to mention the necessary steps. Second, I would have liked to know what percentage of a purchase each party receives. For example, a consumer buys a pair of $250 Warby Parker glasses through Twitter, of course with the assistance of Relay–how much goes to each party? Lastly, the article briefly mentioned that Stripe was interested in joining Sacks Fifth Avenue and Macy’s, yet I wanted to know what the retailers’ feeling is on this, and if they are even close to closing a deal or not.

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