Spreedly is a payment orchestration platform that helps users to store their credit cards and use them for secure transactions with different APIs and gateways. It offers a vault service to users and employs card tokenization with an integration service.
This is also an API that connects numerous payment services providers in the ecosystem of global payments, thus creating a payment stack of the institutional level. It helps to create a flexible strategy leading to the development and growth of your business. According to the experts, payment orchestration is chosen by 70% of companies.
The company based in Durham, North Carolina, United States, has considerably grown by 2022. With more extensive infrastructure, it has managed to add improved support tiers to provide a more personalized assistance to clients. One of the options is to guarantee definite response times to comply with instant payments requirements. Previously, it launched the Mastercard tokenization program. In this way, the company has grown to become an inclusive and versatile ecosystem delivering numerous payment services throughout the world. At the time of writing, the platform offers over 120 options for integration via a single connection. It helps to increase the speed of a customer’s acquisition resulting in more revenues and better value to companies and customers.
Being an innovative facility, the platform uses a new standard for transactions across multiple payment services. The technology helps customers to reach new markets with ease and make their payments faster and more flexible.
The platform presents a portable PCI-compliant vault that allows the use of secure payment methods. Merchants can focus on their work creating a good customer experience. The system helps them to optimize revenue and make the combination of payment services more efficient for you. Fintech companies can extend their market’s reach, driving more volume there and activating the market.
It is possible to use local and alternative payment methods and decrease the rate of redundancy in this way. You can offer an extensive range of payment services to your consumers. It helps companies to become more popular with customers and strengthen their loyalty. It helps the brand to grow and acquire international recognition.
As was mentioned above, the platform’s tokenization program allows clients to choose between the secure PAN and network tokens. It is possible to store both assets on the platform. Thus, merchants can take advantage of flexible token transactions since they allow using other PSPs or acquirers during transactions.
In September 2022, the platform announced a partnership with Paysafe, since it needed its payment gateway for international expansion.
The way to execute Spreedly financial transactions:
In the beginning, the credit card data is captured for storage in the vault. Using the tokenization procedure, the user gets a token, which is referenced by them to be used for transactions. Then the token is sent to the service with a transaction type request. Mapping the token to actual card data, the service passes it right to the certain gateway. Tokenization helps to transact and collect safe payments for businesses and merchants.
How to connect to the service
Users should register first to start using the service. The creation of the API credentials is needed for transactions. Then users should add a gateway or an API to conduct transactions . Since then it is possible to collect payment data from customers and use their data for purchases. The procedure enables the creation of merchants’ aggregators and their registration to provide services for them such as reporting or some other service.