How they describe themselves: Spreedly is a credit card vault in the Cloud that provides all the benefits of tokenization without ever having cards locked into any payment gateway or third-party service. Our credit card vault allows businesses to securely tokenize and store credit card information in the Cloud for single and repeat transactions across any of our 50+ supported payment gateways. Launched in March 2013, we’re a seven-person angel-funded startup in Durham, NC. Our more than 150 customers include SaaS commerce platforms, billing and booking solutions, fintech payment services, and mobile and marketplace offerings.
How they describe their product/innovation: Prior to today, Spreedly could take a stored card and pass it against a Spreedly integrated payment gateway. With today’s announcement three new things are happening. Firstly, customer’s can create their own end points to which they want to pass cards. No more relying on Spreedly to do the work. Secondly, those end points can be more than just payment gateways. Think of it as an industry API for consuming card data (hotel, ticketing, restaurant, and transportation). And thirdly, customers can use Spreedly to automatically update cards across 60+ gateways, which means no more lost revenue from lost or expired cards.
Product Distribution Strategy: Direct to Business (B2B)