Attacks designed to gauge the value of a stolen card are growing quickly as the transaction mix becomes more digital, with smaller and more frequent purchases.
e-commerce fraud is increasing pressure on businesses’ margins, adding a further barrier to growth during economic uncertainty, with nearly three-quar.
Stripe Acquires Bouncer
The amount of the deal was not disclosed.
Bouncer’s team – led by Will Megson, CEO – and technology will join Stripe to further enhance the capabilities of Radar, Stripe’s machine-learning-based fraud prevention tool.
Bouncer will be integrated into Stripe Radar. When it identifies a specific transaction as high risk, Radar will use Bouncer’s card scanning and verification technology to confirm that an end customer has a legitimate card in their hands at the time of the purchase.
Bouncer has developed card scanning and risk technology used to help online businesses reduce fraud and authenticate cards. When an incoming transaction is flagged as high-risk, rather than blocking the purchase entirely, a business can use it to verify that a card being used is legitimate. Bouncer does this by requesting live photos of the card. Pictures can be taken on any smartphone, and the scanning technology supports all payment card types, card designs and ligh
On the heels of a $600 million fundraise earlier this year, payments giant Stripe has been on an acquisition march to continue building out its business. In the latest development, the company has acquired Bouncer, a startup based in Oakland that has built a platform to automatically run card authentications and detect fraud in card-based […]