Following this announcement, the aquisition of Ravelin is set to complement and enhance Worldpay’s portfolio of value-added solutions, as well as enable merchants of all sizes to grow faster and protect their businesses as fraud activity accelerates globally.
In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Worldpay represents a payment technology and solutions company that focuses on powering omni-commerce across the world. Its processing tools aim to allow businesses and firms of all sizes to take, make, and manage payments in-person and online from across the globe. Ravelin is an AI-native enterprise fraud prevention platform that aims to protect companies against the threats posed by fraudsters in the industry.
According to the official press release, the acquisition of Ravelin aligns with Worldpay’s strategy of investing in development and AI technology, as well as enhancing the value provided to customers and accelerating the company’s ecommerce growth. At the same time, Ravelin’s technology and expertise are expected to significantly optimise Worldpay’s value proposition to the marketplace, and the company aims to partner with the latter’s team in order to optimise the manner in which customers address their challenges and difficulties.
In addition, both companies will focus on delivering innovation at scale, as well as drive the overall adoption of optimised and secure fraud solutions to customers as they respond to increasingly sophisticated threats and rising fraud-related costs. Ravelin’s cloud-based AI platform will also allow Worldpay to offer its customers technology to further improve authorisation rates.
The transaction is expected to close in Q1 2025.
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