Payment orchestration platform Spreedly is partnering with payment processor Stripe to fight fraud with Stripe’s advanced solution Radar, which works to curb shady transactions while validating an increased number of legit proceedings.
“As part of our integration with the Stripe Connect platform, customers can access many of its advanced payment features, including Radar,” Andy McHale, senior director of product management with Spreedly, said in a press release emailed to PYMNTS on Tuesday (Nov. 30).
“Fraud drives incremental expenses for merchants and platforms alike via chargeback losses, fees, and merchandise loss. To combat these losses, merchants and platforms often integrate various fraud tools. Connecting those fraud tools and payment gateways via a Payment Orchestration Platform simplifies system complexity by reducing the number of direct vendor integrations and orchestrating them to work together,” McHale said.
See also: Spreedly Certification Program Connects Gateways to Merchants and Platforms Around the World
With the expanded partnership between the two firms, Stripe and Spreedly can offer their mutual customers the ability to leverage Radar’s advanced fraud-fighting capabilities.
Radar works to detect and block fraud by tapping machine learning that comes from training on data from millions of businesses worldwide. That global network processes billions in payments annually, giving Radar the ability to give every payment a risk score and intuitively stop many risky payments.
Read more: What Exactly Is ‘Payment Orchestration’ And Why Does Your Business Need It?
Founded in 2007, Spreedly’s payments orchestration platform is headquartered in Durham, North Carolina. The company offers a complete payment services marketplace that optimizes digital transactions and helps enterprises and hyper-growth companies grow their digital business faster.
Launched in 2011, Stripe is dual headquartered in San Francisco and Dublin, with offices in London, Paris, Singapore, Tokyo and more. Stripe is a technology company that builds economic infrastructure for the internet. Businesses use their software to accept payments and manage their businesses online.
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