Payments FinTech Stripe has acquired Bouncer, a card authentication technology business.
In Brief:
Bouncer is building technology to help reduce fraud in online payments.
Stripe currently has a tool called Radar which uses machine learning to prevent fraud.
Bouncer’s capabilities will be added to Radar to further protect against card fraud.
What does this mean?
Stripe Radar business lead Simon Arscott said that the Bouncer team’s years of experience in building this kind of software will help enhance Stripe’s security product. “With the addition of advanced card scanning capabilities, Stripe Radar will be able to block more fraud and further increase revenue for millions of business around the world who rely on Stripe,” he commented.
