Payments giant Worldpay has announced its acquisition of Ravelin, a London-based AI-native fraud prevention platform. While financial terms remain undisclosed, the deal is expected to close in the first quarter of 2024.
Founded in 2015, Ravelin specializes in fraud prediction and prevention for e-commerce merchants, addressing issues such as payment fraud, account takeovers, refund abuse, and marketplace fraud. Its cloud-based AI technology will enhance Worldpay’s portfolio of value-added solutions, helping merchants improve authorization rates and combat evolving fraud threats.
Charles Drucker, CEO of Worldpay, emphasized the importance of advanced fraud prevention tools in today’s digital landscape, stating that Ravelin’s expertise will significantly strengthen Worldpay’s offerings.
The acquisition underscores Worldpay’s commitment to providing cutting-edge solutions to its global merchant base.