Financial infrastructure platform Stripe has partnered with digital platform Staytion to power payments in Southeast Asia, including Singapore, Malaysia, and Thailand. A one-stop platform of on-demand spaces in the region, Staytion leverages Stripe to facilitate simplified and secure payment subscription services for over 300 partners and their customers using the coworking and lifestyle spaces located in and around train stations.

The collaboration seeks to support the trend of workplace flexibility where businesses can offer their employees easy, on-demand access to conducive workspaces in an increasingly hybrid environment. Staytion – Stripe partnership details A Singapore-based startup, Staytion started by aiming to connect entrepreneurs to a network of offices in the region, enabling users to go into conducive and convenient workspaces, minutes from train stations, instead of having them spend time finding an available spot at cafes or libraries. Having seen an increased demand for new working space types in Asia due to businesses providing employees with flexible work environments, the company pivoted its business model to a technology-led, one-stop regional platform for spaces, and is leveraging Stripe Billing to offer customers a billing solution that is tailored to their needs.

Yoeven D Khemlani, Head of Technology & Product, Staytion advised that as the company focuses on providing conducive and accessible co-working spaces for its users, they require booking and payments systems that are frictionless, extensive, and easy to use, and working with Stripe enables them to offer a simplified user experience. Per their statement, in the months to come, they are set to deepen the collaboration with Stripe and other partners, as they aim to further regional expansion and host more than 2,000 space partners by the end of 2023. By leveraging Stripe’s product suite, Staytion was enabled to process booking requests from Singapore, Malaysia, and Thailand on its platform within a four-week span.

Stripe’s availability of local payment methods helped the company increase local relevance and enter new markets, with the company currently having over 300 partners, more than 10,000 users, and over 15,000 booking requests received. What is more, Stripe Radar helps Staytion detect and block fraud by leveraging machine learning trained on data from a multitude of global companies. The machine learning approach also helps minimise false positives to prevent genuine customers from having blocked purchases.

The company is to continue strengthening its security capabilities and allocate resources to focus on more planning-intensive tasks. Sarita Singh, Managing Director, Southeast Asia, Stripe stated that the company is looking forward to powering payments for transformative businesses across Southeast Asia such as Staytion. Per their statement, hybrid work is here to stay, and Staytion provides an initiative that caters to companies and individuals requiring increasingly flexible and productive ways of working, and Stripe is set to help enable its continued growth to support the workforces of the future.

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