Stripe Buys OpenChannel for Ecosystem Integration
Digital payment processing firm Stripe on Monday (Dec. 6) announced the acquisition of app marketplace software platform OpenChannel, which helps businesses build app ecosystems for third-party developers and users. Last week, Stripe teamed up with payment orchestration platform Spreedly to fight fraud with Stripe’s advanced solution, Radar, which detects and blocks fraud through machine learning capabilities that come from training on data from millions of businesses worldwide. Stripe has dual headquarters in San Francisco and Dublin, along with offices in London, Paris, Singapore, Tokyo and more. Also read: Crypto Payments are Back on the Bargaining Table for Stripe After Dropping Bitcoin in 2018 Meanwhile, Stripe is reconsidering accepting cryptocurrency for payments after ending support for bitcoin in 2018 because of unstable prices and challenges in using it in many transactions at the time, Stripe co-founder and president John Collison said last month at the Fintech Abu Dhabi festival. Recent developments in crypto are making bitcoin more appealing as a payment option and, although the company doesn’t have active plans to reinstate their use, accepting crypto is “not implausible.” Tara Seshan, business lead at Stripe Treasury, told PYMNTS in a recent interview that the company isn’t quite ready to reverse course on accepting cryptocurrency, but there’s a place for digital coins in the business world.
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