Provides a payment processing platform that enables secure, account-to-account transactions through a single API, integrating ACH, RTP, and FedNow for faster settlements. By combining real-time fraud detection, identity verification, and regulatory compliance, it reduces payment delays, eliminates interchange fees, and protects businesses from fraudulent activities.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional payment methods often involve interchange fees and can be susceptible to fraud, leading to increased costs and security risks for businesses. Delays in settlement times can also impact cash flow and operational efficiency.
Solution
Straddle provides a payment processing platform that facilitates secure, account-to-account transactions through a unified API, integrating ACH, RTP, and FedNow for faster settlements. The platform incorporates real-time fraud detection, identity verification, and regulatory compliance features to mitigate payment delays and protect businesses from fraudulent activities. By leveraging open banking APIs and tokenization, Straddle enables debit-like payment performance without interchange fees. Its Pay by Bank solution connects applications to a wide range of US bank accounts, while its Identity product verifies user identities to prevent fraud.
Target Audience
Straddle targets businesses, SaaS platforms, PayFacs, and marketplaces that require secure, cost-effective payment processing with integrated fraud prevention and compliance features.
Features
- Unified API for ACH, RTP, and FedNow payment rails
- Real-time fraud detection and risk scoring
- Integrated identity verification for secure transactions
- Balance confirmation to prevent failed payments
- Dynamic multi-rail orchestration for optimized payouts
- Support for third-party tokens from providers like Plaid and MX
- Tokenized PII and AML sanctions screening for regulatory compliance
- Drop-in open banking integration via Straddle Bridge