Worldpay, a prominent player in PayTech, is set to acquire Ravelin, a leading AI-native fraud prevention platform based in London.
This acquisition will enhance Worldpay’s suite of value-added solutions, enabling merchants globally to expand more swiftly while securing their operations against escalating fraud activities.
Ravelin, established in 2015, has been at the forefront of developing advanced fraud prediction and prevention solutions tailored for e-commerce merchants. Throughout its operation, Ravelin has become a key figure in tackling payment fraud, account takeovers, and other security breaches, utilizing its robust cloud-based AI technology. This technology will bolster Worldpay’s capabilities, improving authorization rates and offering cutting-edge technology to its customers.
The acquisition is strategic for Worldpay, aligning with its commitment to investing in innovation and AI technology to enhance customer value and boost its e-commerce growth. “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 Charles Drucker, chief executive officer of Worldpay.
On the other hand, Ravelin is poised to benefit from Worldpay’s vast scale and reach, which includes processing approximately $2.5tn in payment volume and over 50 billion transactions in 2024 alone. “Ravelin is thrilled to be joining Worldpay, a true global leader in the payments industry,” stated Martin Sweeney, co-founder and chief executive officer of Ravelin. He highlighted the advantages of Worldpay’s scale in advancing Ravelin’s mission to eliminate internet fraud.
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