Payments Orchestration Platform Spreedly Inks Pact with Stripe – Finovate

  • Spreedly announced an integration that will expand the number of local payment methods available via Stripe.
  • Among the supported payment methods are IDEAL, Bancontact, Giropay, EPS, Alipay, Afterpay / Clearpay, Sofort, and Przelewy24, as well as Apple Pay and Google Pay.
  • Spreedly’s announcement comes in the wake of strong transaction volume growth from its operations in Latin America.

Payments orchestration platform Spreedly and payments processor Stripe have expanded their partnership to enable access to more local payment options. As part of the announcement, Spreedly underscored that its customers will have access to Stripe’s fraud fighting solution, Radar, as well.

“This latest integration allows joint Stripe and Spreedly customers to offer their customers a variety of payment methods and provides access to Radar, helping to manage the fraud risks associated with accepting payments online,” Spreedly Senior Director of Product Andy McHale explained.

By offering customers a broader range of local payment alternatives, merchants are able to reach more customers, bring down transaction costs, and boost conversion rates. Payment orchestration, such as that available from Spreedly, helps provide this flexibility, giving merchants and merchant aggregators the option of not only transacting with a wider variety of gateways and payment services, but also enabling them to test and experiment to find out which services work best for their customers.

First announced in November, access to Stripe’s Radar feature gives Spreedly customers the ability to bring machine learning to bear to detect and block fraud. Radar leverages data across millions of international companies processing billions of payments a year to assign risk scores and block high-risk payments. McHale noted that while many merchants and platforms do integrate fraud fighting solutions, working with companies like Spreedly can provide significant advantages.

“(Integrating) 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.

This week’s news from Spreedly arrives in the wake of the company’s announcement that European payments company Worldline had joined Spreedly’s Payment Service Provider program. The Durham, North Carolina-based company began the year with news that transaction volume from Latin America had grown by more than 100% year-over-year.

Photo by Gabriel Santos Fotografia from Pexels

Go to Publisher: Finovate
Author: David Penn