Stripe Ramps Up Payments Fraud Prevention

Payments upstart Stripe unveiled a new set of fraud prevention tools that it hopes will curtail some of the billions of dollars in digital theft from online merchants every year. The technology, called Radar, uses machine learning and algorithms to learn from the hundreds of thousands of businesses that process transactions on the Stripe network every second. Because the startup is processing this massive amount of information every day, it can pick up signals about which transactions might be more fraudulent, according to Stripe. Founded by brothers Patrick and John Collison, Stripe helps businesses accept nearly all forms of digital payments online. Its service has gained considerable traction and helped push the company into the top tier of startups known as unicorns that are valued at $1 billion or more.…


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