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We’ve really been on a pretty fun international expansion journey over the past six or seven years, thinking about innovations around how we get money to a seller that’s selling cross-border, how do we make that currency conversion process trivially easy for them, and how do we make sure they get paid as expected and on time. There’s a lot of complexity in that.
Fitness is a truly global industry which has become very homogenous, people taking a spin class in Ecuador are getting the same experience as gym goers in London, Kuala Lumpur, and New York. This means global franchises want to make the entire fitness experience consistent, including payments. It’s not too difficult to have the same fitness content in different countries, but when you get into highly regulated areas like payments you can really see the differences between markets.
We use Stripe as the information source to determine the best way to transact in different countries, and this helps us build the stories for our leadership to obtain buy-in to proceed. We’re no longer scared to go into a new market or region because of payment processing solution limitations.