Online learning platform Thinkific has hit a major milestone with its Thinkific Payments platform, reaching over $100 million in payments volume processed since its release in November 2021.
The platform, which is a payment processor designed to maximize sales conversions, has seen strong adoption since its launch, with more than 26% of all transactions on the Thinkific platform now running through it.
In the last quarter alone, the platform processed over $29 million in gross product value (GPV), making it one of the fastest-growing embedded payment products on the internet. And with approximately 80% of new creators in the United States, the United Kingdom, and Canada starting with Thinkific Payments, the platform’s continued growth is expected.
Vancouver-born Thinkific has been able to fast-track the development of products and features that automate accounting, subscriptions, and payments administration by working with market-leading strategic partners, which has helped its creators to increase sales and scale their online businesses.
“The rate of growth we’ve seen with Thinkific Payments has exceeded even our expectations, and this is quickly growing into a significant, profitable revenue stream,” said Greg Smith, CEO of Thinkific.
“We focused the platform’s development on improving the payments experience for our creators and helping them run more efficient, successful, and profitable businesses. The level of adoption we’re seeing is a great indicator that this is working and we’re confident that new, landmark products being deployed in the coming months will take our creator experience, and the success of Thinkific Payments, to the next level.”
Leave a Reply