Synopsis-
“Spreedly, a US-based global payment orchestration platform that offers services like payment enablement, payment optimization, and payment orchestration has brought a vaulting solution for payment teams.”
Technology has empowered the global finance system and allowed finance companies to come up with numerous unique ideas backed by advanced financial technology. Vaults have been a true place to store and save important documents.
Spreedly, a US-based global payment orchestration platform that offers services like payment enablement, payment optimization, and payment orchestration. Now the company has brought a vaulting solution for payment teams. The Spreedly Advanced Vault System optimises payment methods by merging network tokenization and new-age lifecycle features with active management.
What is tokenization?
Tokenization is a procedure of data tokenization where sensitive data is replaced with unique identification symbols that keeps back all the information about data worrying about its security. Tokenization has become the most useful way for small and mid-level businesses to increase the security of e-com transactions and credit card payments.
What does this new vault do?
The Advanced Vault provides extra advantages over traditional payment method management. This new service elevates the traditional payments vault from a digital storage space to an adaptable, intelligent service that boosts transaction success and enhances the value of your stored payment methods.
Justin Benson, CEO at Spreedly, said,“It was clear that many of our current customers were incurring increased costs with their payment method retention strategies. While valuable, the set of tools available required payment teams to create and manage the entire optimisation process themselves. Advanced Vault is the latest example of how Spreedly has invested in solutions that optimise payments for customers and enable them to get the most out of their stored payment credentials. We offer an easy way to incorporate industry best practices while allowing savvy payment teams to add rules and configurations to meet their unique needs best.”
The new offering, which is based on Spreedly’s PCI-compliant vault, incorporates a modern set of features for card lifecycle management and network tokenization with rules and configurations created to optimise how your payment methods are stored, refreshed, and used.
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