Spreedly launches Vault solution to enhance payment methods

By Delisha Fernandes

Spreedly, a provider of  payments orchestration platform, announced it has launched vaulting solution for payments teams. The platform’s Advanced Vault optimises payment methods by combining modern lifecycle features and network tokenisation with active management.

The Advanced Vault offers new levels of value over traditional payment method management. This additional offering transforms the traditional payments vault from a digital storage space into an adaptable, intelligent service that improves transaction success and maximises the value of your stored payment methods.

“The many complexities associated with payments make it one of the areas in a business most ripe for efficiency gains,” said Jordan McKee, Research Director for Fintech at S&P Global Market Intelligence. “The most advanced merchants relentlessly pursue efficiencies across all aspects of their payment stack. This includes strategies that optimise the cost of acceptance, simplify payment operations, and provide actionable business insights.”

Built on Spreedly’s PCI-compliant vault, the new offering combines a modern set of features for card lifecycle management and network tokenisation with rules and configurations designed to optimise how your payment methods are stored, refreshed, and utilised.

“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,” said Justin Benson, CEO at Spreedly.

Benson added, “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.”