Stripe has acquired card authentication technology company Bouncer, the company said in a statement. Bouncer further enhance the capabilities of Radar, Stripe’s powerful, machine-learning-based fraud prevention tool.
Bouncer’s card scanning and risk technology is used to help online businesses reduce fraud and authenticate cards. Bouncer will be integrated into Stripe Radar, a fraud prevention tool whose machine learning models are trained on purchases made at millions of companies around the world every day. Radar is fully integrated into Stripe’s payments platform.
“We’re thrilled to welcome the Bouncer team, and their years of experience building payment authentication software for businesses, to Stripe and to enable their technology for Radar users. With the addition of advanced card scanning capabilities, Stripe Radar will be able block more fraud and further increase revenue for millions of businesses around the world who rely on Stripe,” he said.
Bouncer also announced the acquisition via a press release on its website. It highlighted how combining with Stripe will increase its ability to complete its core mission of solving the problem of card not present fraud.
“When we set out to build Bouncer we wanted to build an effective solution to a problem every business selling online faces: credit card fraud. That’s why we’re so thrilled to be joining Stripe, a company that has spent a decade building infrastructure to help businesses start and operate online,” the press release said.
“Over the past year COVID has pulled ecommerce years into the future and confirmed what we and Stripe always believed – online commerce is essential and credit card fraud is a crucial problem to address if the internet economy is going to reach its full potential.”
Sources:
