Stripe has announced a strategic acquisition as well as a series of updates to its product stack to prepare businesses for Strong Customer Authentication (SCA).
The payments infrastructure unicorn has acquired Dublin-based Touchtech Payments—a software company that provides advanced SCA-ready authentication technology for some of Europe’s leading fintechs and challenger banks, such as N26 and Transferwise.
By providing advanced authentication technology for credit card issuers, Touchtech Payments helps them offer better payments experiences for their customers, without having to choose between security and user experience.
“On the modern internet, payments should be everything you’d expect: easy, secure, and fully compliant with the latest regulations. Unfortunately, these three attributes are often at odds with one another, making it nearly impossible for an individual business to keep pace with regulatory changes and build a great payments product experience for their customers,” said Will Gaybrick, Stripe’s Chief Product Officer.
“Touchtech adds yet another layer to the economic infrastructure Stripe is building for the internet, which is designed to help businesses comply not only with SCA but also with the entire next generation of regional payment regulations.”
As part of Stripe, Touchtech will continue to grow its products, working from Dublin.