- Worldpay plans to acquire AI-driven fraud detection company Ravelin.
- The acquisition will help Worldpay enhance its e-commerce offerings by adding fraud prevention technology and improve business clients’ authorization rates.
- Ravelin’s cloud-based platform helps merchants combat online fraud, secure accounts, and improve payment authorization rates through partnerships with data providers like Ekata and Ethoca.
Payments and banking services company Worldpay announced plans today to acquire fraud detection company Ravelin. Financial terms of the deal were not disclosed. The acquisition is expected to close later this quarter.
“Our acquisition of Ravelin aligns with our strategy to invest in innovation and AI technology, enhancing the value we provide customers and accelerating our e-commerce growth,” said Worldpay CEO Charles Drucker. “In today’s online world, equipping merchants with next-generation AI-powered fraud prevention products is vital, and we believe Ravelin’s technology and expertise will significantly enhance Worldpay’s overall value proposition to the marketplace. We look forward to partnering with Ravelin’s leadership and their talented team to help our customers address their most complex challenges.”
Ohio-based Worldpay anticipates that buying Ravelin will complement and enhance its existing portfolio of solutions. The company will also leverage Ravelin’s cloud-based AI platform to help its merchant clients improve authorization rates.
Worldpay was founded in 1971 and enables merchants of all sizes to grow faster and protect their businesses as fraud activity accelerates globally. The company offers processing solutions that allow businesses to take, make, and manage a variety of payments, including online, in-person, and embedded payments. The company processes over 50 billion transactions each year across 146 countries and 135 currencies.
Fraud prevention and payments optimization company Ravelin helps ecommerce merchants combat online payments fraud, implement account security, accept returns while blocking fraudsters, and set limits on promotional redemptions. The company also performs 3D Secure identification. Ravelin works with third parties including Ekata, Ethoca, and Chargebacks 911 to bring a wealth of data and disputes, and can integrate with other external data sources, as well.
“Ravelin is thrilled to be joining Worldpay, a true global leader in the payments industry,” said Ravelin Co-Founder and CEO Martin Sweeney. “Worldpay’s scale and reach, including processing approximately $2.5 trillion in payments volume and more than 50 billion transactions in 2024, will be an immense asset as we accelerate Ravelin’s momentum and advance our mission to eradicate fraud from the internet. Together, we will be able to deliver innovation at scale, driving the adoption of our industry-leading fraud solutions to customers as they respond to increasingly sophisticated threats and rising fraud-related costs.”
In a world where consumers are demanding faster payments, fraud is taking place at a faster rate, as well. The methods of fraud are also evolving as AI tools become more advanced, making fraud more sophisticated and harder to detect. By integrating Ravelin’s fraud prevention tools with its payment processing services, Worldpay will provide businesses with the ability to protect themselves against fast-moving fraud.
Photo by Tima Miroshnichenko
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