Spade, the fastest and most accurate provider of real-time merchant intelligence for the card ecosystem, will partner with Stripe to power enriched merchant data.
Spade provides real-time merchant intelligence for the card ecosystem by linking every transaction to a verified merchant identity. In less than 50ms, Spade provides granular merchant, category, and geographic data on transactions, information that is critical to giving Stripe Issuing customers unprecedented visibility, security, and control over their card programs.
Stripe is working with Spade to access accurate merchant names, categories, and geolocation details, so card issuers can improve their authorization rates, reduce chargebacks, proactively mitigate fraud, and better understand how their cardholders spend their money.
For Stripe, it is essential to constantly improve the data that underpins its payments processing platform, especially when it comes to the growing Stripe Issuing product responsible for over 200 million credit cards in the market. After rigorous testing and evaluation of dozens of providers, Stripe selected Spade as its merchant intelligence provider because they offer the most accurate, performant and comprehensive solution – the most critical metrics that allow Stripe to continue delivering trusted payment services. Stripe and Spade will continue collaborating to explore new use cases, using these valuable merchant insights to help customers deliver exceptional experiences.
Stripe customers have indicated that key priorities on their innovation roadmaps will heavily rely on the ability to access real-time rich and accurate merchant data. Stripe customers can now access Spade’s enriched data directly via the Stripe Issuing API. This data can be used for various high-value use cases, including transaction enrichment, fraud detection, spend insights, and more.
“Our work with Stripe will further improve the card experience for countless companies,” said Oban MacTavish, CEO and co-founder, Spade. “Our merchant intelligence is proven to reduce fraud and disputes and help businesses approve more transactions to generate millions in revenue each year. We’re thrilled that Stripe saw the importance of merchant intelligence and chose to work with Spade to get these benefits into the hands of some of the world’s most ambitious and innovative companies.”