In a strategic move to bolster its offerings, Spreedly, a well-known open payments platform, has acquired fraud orchestration company Dodgeball. This acquisition signals Spreedly’s intention to integrate fraud management with payment optimization, a response to the growing need for secure and efficient digital transactions. By consolidating these two services, Spreedly aims to provide comprehensive payment solutions tailored to the evolving demands of merchants and consumers. The acquisition also underscores the company’s commitment to artificial intelligence as a means to fortify its open payment strategies and improve user experience.
In the broader context of digital payment landscapes, the integration of fraud prevention and payment platforms is becoming increasingly crucial. Reports have shown a rising incidence of fraud in real-time payment systems globally. For instance, between 2020 and 2023, the number of cases related to fraud using real-time payments increased significantly. These developments highlight the importance of innovative strategies like AI to combat fraud efficiently. Thus, Spreedly’s decision to incorporate comprehensive fraud management solutions appears timely and necessary.
How will Merchants Benefit?
With the acquisition, merchants using Spreedly’s services are expected to receive enhanced fraud prevention capabilities seamlessly integrated into their payment processing operations. This merger provides merchants with the tools needed to navigate the complex landscape of digital transactions safely. By understanding payment flows and fraud risks together, merchants can make informed decisions to facilitate secure and efficient eCommerce transactions.
What Does the Future Hold for Spreedly?
Spreedly’s pursuit of this acquisition likely sets the stage for future developments within its platform. The addition of Dodgeball’s expertise is anticipated to lead to the development of an AI-powered payments co-pilot, offering advanced analytics and risk management tools. Adjusting to these enhancements will likely allow Spreedly to better serve its clientele by aligning payment processing with evolving fraud tactics.
Dodgeball’s team is set to transition smoothly into the Spreedly family, ensuring that established customer relationships continue intact. Dodgeball’s clients will benefit from Spreedly’s expanded support and management resources, promising a service continuity that prioritizes security without sacrificing user experience. It showcases the shared vision to foster growth while maintaining robust defenses against payment fraud.
“For most merchants, payments and fraud aren’t separate challenges—they’re two sides of the same coin,” exclaimed Justin Benson, CEO of Spreedly.
Dodgeball CEO Adam Hiatt expressed enthusiasm for the collaboration, emphasizing the opportunity to enhance fraud management offerings while supporting the growth of merchants.
“We leapt at the opportunity to join forces with Spreedly to help more merchants build best-of-breed fraud management solutions while still promoting growth,” commented Hiatt.
In conclusion, the integration of Dodgeball’s fraud orchestration capabilities with Spreedly’s payment solutions presents a promising development for digital commerce. This strategic acquisition aims to empower merchants with the tools necessary to fight fraud effectively, ensuring secure transactions across the board. As the digital payment ecosystem continues to face challenges from increasingly sophisticated fraud tactics, the collaboration between these two companies offers a timely response to these issues, highlighting a commitment to innovation in payment processing and fraud prevention.
