Kipp is an AI platform that enhances transaction approval processes for merchants and banks, significantly reducing the $800 billion in eCommerce transactions declined annually. By leveraging real-time AI technology, Kipp increases transaction approval rates, leading to higher revenue and improved customer satisfaction.
Funding
$12.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Card issuers and merchants face significant revenue loss due to declined eCommerce transactions, with \\$800 billion declined annually. Consumers experience frustration when legitimate purchases are rejected, leading to abandoned carts and decreased customer loyalty. Existing authorization processes often fail to accurately assess transaction risk in real-time, resulting in unnecessary declines.
Solution
Kipp provides a real-time AI-powered collaboration platform that enables card issuers and merchants to communicate and authorize more transactions. The platform analyzes transaction data to improve approval rates for both debit and credit card purchases, leading to increased revenue for merchants and enhanced customer satisfaction for issuers. Kipp's technology allows merchants to pay a premium to avoid declines, while issuers gain a new revenue stream and higher authorization rates. The system optimizes payment models by minimizing declined transactions and boosting overall satisfaction.
Target Audience
Kipp targets card issuers (banks, credit unions) and eCommerce merchants seeking to reduce transaction declines, increase revenue, and improve customer loyalty.
Features
- Real-time AI-driven transaction risk assessment
- Issuer-merchant collaboration platform for enhanced communication
- Premium pricing model for merchants to avoid declines
- Support for both credit and debit card transactions
- Integration with existing payment systems (no integration required)
- SKU-level control for employee benefits programs
- Analytics dashboard for monitoring authorization rates and revenue