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April 18, 2019

Stripe takes over Touchtech Payments

Stripe, a payments technology firm headquartered in California, has acquired Dublin-based peer Touchtech Payments.

Financial terms of the transaction were not revealed.

Touchtech is a provider of advanced strong customer authentication (SCA) technology.

Among the firm’s clients are digital bank N26 and money transfer firm Transferwise.

Stripe chief product officer Will Gaybrick said: “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.”

The latest acquisition strengthens Stripe presence in Dublin.

Last year, Stripe announced plans to launch an engineering hub in Dublin, which is its first outside the US.

Operating from the Dublin hub, Touchtech will also continue to expand its offerings.

The acquisition comes ahead of the implementation of SCA regulation across Europe, part of the PSD2 mandate.

The regulation, scheduled to be effective this September, aims to make online payments more secure by requiring one to use a password, phone, and fingerprint or face ID for authentication.

In order to brace up for the new regulation, Stripe launched Payments Intents API.

Using the API, businesses can design SCA-ready payment forms.

Stripe also launched a pre-built payments page optimised for SCA and tools to detect which charges need SCA.

 

 

 

 

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