Paltalk Inc, the parent company of social apps Paltalk and Camfrog, has adopted Cleverbridge tools to upgrade its payment processing. This new payment engine will help Paltalk Inc provide more convenient and safe services to its hundreds of millions of users.
Paltalk Inc operates a number of video-focused social platforms, including Palktalk, Camfrog, ManyCam, Tinychat, and Vumber. Across its platforms, Paltalk Inc serves nearly half a billion users worldwide.
The company announced that it is now engaging with Cleverbridge, a software provider that supports subscriptions and payments. This will enable improved services in global markets “while minimizing risk and administrative work” for Paltalk, the social company shared.
“Cleverbridge is an ideal company for us to work with, with nearly two decades of payments’ experience and excellent fraud detection. Beyond facilitating and authenticating payments, we believe Cleverbridge can help us increase our acceptance rates and reduce fraud at a global scale”, said Jason Katz, CEO of Palktalk.
“Its chargeback prevention algorithms have earned it one of the highest trust scores in the payment processing industry. We are pleased to offer such outstanding capabilities to our current and prospective international subscribers, particularly in Europe”, Katz added.
Paltalk Inc shared that its platforms have a global reach, attracting a diverse range of users. Camfrog, for example, has a heavy concentration of users in Southeast Asia.
Wendi Sturgis, CEO of Cleverbridge, stated, “We are impressed with Paltalk’s offerings and look forward to assisting them in strengthening their foothold internationally”.
“We expect that our 50+ payment methods and 59 transaction currencies will enable Paltalk to seamlessly grow their international markets while providing subscribers with unparalleled flexibility throughout the checkout process. With our fraud detection and chargeback prevention capabilities, Paltalk can protect and recover recurring revenue while limiting any risk exposure”, Sturgis continued.
Paktalk Inc recorded 12% revenue growth in Q2 of 2023, rising to $3 million. You can find more of the latest updates from the company here.