Rivet is a payment cost optimization platform that automatically monitors transaction data and fixes interchange downgrades in real time, without requiring a processor switch. The platform connects to existing processors and uses a three-part system—RivetAudit, RivetMonitor, and RivetOptimize—to identify, track, and correct data issues that trigger higher card network fees. Most customers discover six to seven figures in recoverable savings from their initial audit.
Funding
Funding not disclosed
Founders
Product
Problem
Card network rules change frequently, and when transaction data fails to meet those requirements, merchants automatically pay higher interchange fees on every transaction. Most businesses are unaware of these silent overcharges until they conduct a detailed analysis, and the expertise needed to keep pace with rule changes has historically been available only to large enterprises with dedicated payments teams.
Solution
Rivet provides a payment cost optimization platform that automatically audits, monitors, and corrects transaction data before it reaches the processor, eliminating interchange downgrades without requiring a processor switch. The platform connects to existing processors and runs a three-part system: RivetAudit analyzes historical transaction data to quantify savings opportunities, RivetMonitor continuously tracks downgrade trends and alerts on cost spikes, and RivetOptimize enriches transaction payloads in real time to fix data issues that trigger higher fees. This automation replaces the manual work of enterprise payments teams, allowing companies of any size to maintain compliance with card network rules and recover interchange costs without adding headcount.
Target Audience
Primary customers are mid-market and enterprise merchants processing significant transaction volumes who want to reduce interchange fees without switching processors or hiring dedicated payments staff. The platform is also suited for high-growth companies where savings scale proportionally with processing volume.
Features
- RivetAudit performs deep-dive analysis of transaction data to identify downgrade categories and quantify recoverable savings by processor and transaction type
- RivetMonitor provides continuous monitoring of gateway reporting, catching card network rule changes, payload data breakage, and unexpected cost spikes automatically
- RivetOptimize applies real-time API-based payload enrichment to tokenized transactions before they are submitted to the gateway, correcting data issues that cause interchange downgrades
- Patent-pending technology that distinguishes Rivet from analytics-only tools by actively fixing data rather than just reporting problems
- Low-to-no-code integration that connects to existing processors in hours, not weeks, with no major changes to the payment stack
- Scalable value model where a 10 basis point improvement at $100M in annual processing saves $100K per year, compounding as volume grows