Stripe unveils AI foundation model for payments, reveals ‘deeper partnership’ with Nvidia

Fintech giant Stripe announced Wednesday a slew of new product launches at its annual Stripe Sessions user event. The highlights include: a new AI foundation model for payments; stablecoin-powered accounts; a new Orchestration offering, and a recent migration with chip behemoth Nvidia. Stripe’s payments foundation model has been trained on tens of billions of transactions, Emily Glassberg Sands, Stripe’s head of information, said. So it “captures hundreds of subtle signals about each payment” that other models would miss, she said. One use case is improved fraud detection. Stripe’s previous models “gradually” reduced card testing attacks by 80% over two years. Card testing attacks are a type of fraudulent activity in which someone tries to determine whether stolen card information is valid so that they can use it to make purchases. The company claims that its new foundation model increased its detection rate for such attacks on large businesses “by 64% practically overnight.” She added, “Previously, we couldn’t take advantage of our vast data. Now, we can.” Stripe, of course, isn’t the only fintech to have built a model using AI for fraud detection. Just one example is Sardine, which describes itself as an AI risk platform for fraud, compliance, and credit underwriting, in February raised a $70 million Series C funding round led by Activant Capital. In an interview, Will Gaybrick, Stripe’s president of product & business, told TechCrunch that Stripe’s generalized model is via self-supervised learning, and thus discovers its own features. “ We have found over and over and over again in machine learning, generalized models outperform,” he said. “A big part of that is agility. It just performs better and adapts better to changes in fraud patterns. Stripe also announced on Wednesday its intent to bring stablecoin-backed, multicurrency cards to businesses by partnering with other startups like Ramp, Squads and Airtm. With such cards, businesses across multiple countries will be able to “operate in the same currency for the first time,” the companies claim. The move comes just three months after Stripe completed its acquisition of stablecoin platform Bridge. With Orchestration, Stripe said it can better help businesses set up, manage, and optimize performance across multiple payment providers from its dashboard – whether or not they use Stripe as a payment processor. Stripe also used the event to name numerous AI companies that use its billing product, including Windsurf, OpenAI, Anthropic, Cursor, Perplexity, and Eleven Labs. More recently, according to Vivek Sharma, Stripe’s head of revenue automation, Nvidia migrated its “entire subscriber base” to Stripe Billing in six weeks – a process that the fintech claims typically takes many months for a business to complete and marked the “fastest-ever migration to Stripe Billing.” (Nvidia was already a customer of Stripe Payments). Other announcements by Stripe on Wednesday included: Support for 25 new payment methods, including UPI and PIX, bringing its total to over 125 payment methods. Klarna will be available on Stripe’s consumer payments product Link this summer. Stripe Terminal can now be used with third-party hardware, starting with Verifone. Managed Payments, a new merchant-of-record offering that gives businesses everything they need to enter new markets by taking care of global taxes, fraud prevention, dispute management, fulfillment, and more on their behalf. Smart Disputes, which uses AI to automate disputes handling. Stripe Tax is now available in 102 countries, up from 57 last year, and automation of the entire tax lifecycle from monitoring and registering, to collecting and filing. Global Payouts, which allows businesses to pay out to customers, contractors, and other third parties with just an email address.