Checkout.com has today announced details of its partnership with Coinbase, the largest crypto exchange in the US, in a case study that offers a closer look at the infrastructure behind one of the most prominent platforms in digital assets.
Checkout.com has partnered with Coinbase since 2020, strengthening the payment infrastructure supporting trade in more than 100 markets, and helping tighten Coinbase’s fraud protection strategy. „As a result, Coinbase achieved a 13 percentage point increase in its payment acceptance rate. Today, Checkout.com provides acquiring for around half of Coinbase’s business outside the US, while also supporting critical payments infrastructure in its US market.”- according to a company’s blog.
„In partnerships, we’re always looking for partners that have the same values,” says Alaina Revoir, Head of Financial Services Partnerships at Coinbase. „It really feels like Checkout.com is an extension of our team.”
A few details from the partnership:
. Coinbase operates in more than 100 markets and needed resilient payment rails to stay always available for users.
. Checkout.com supports acquiring for around 50% of Coinbase’s non-US business and provides critical payments infrastructure in the US market.
. The partnership helped drive a 13 percentage point uplift in acceptance rates.
. Fraud rates were cut by half even as transaction volumes increased.
. The relationship has evolved from payouts into a broader strategic partnership spanning payins, payouts, fraud detection, authentication, network tokens, and smart routing.
„We cannot lose payment rails in our industry,” explains Alaina. „The expectation from our users is that we are always operational when it comes to payment rails, and so having multiple providers is extremely important.„
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