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October 10, 2019

Radpay upgrades digital wallet with fraud resistance feature

Decentralised global payment processing firm Radpay has incorporated a patent-pending fraud resistance functionality into its digital wallet.

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Radpay combats fraud using increased identity and transaction validation methods. This is done by linking mobile phones and wearable devices running a Radpay-enabled digital wallet with traditional payment methods such as debit cards.

The move is aimed at resolving a $33bn fraud problem affecting card issuers, transaction acquirers, as well as merchants.

Radpay Dana Love co-founder and CEO said: “Digital payment solutions need to be more than a smart phone version of your credit and debit cards.

“Radpay is working to reimagine payments, and that includes making fraud protection a central element to our payment system and our digital wallet.

“One way we’re working to help consumers stay safer is through linking our mobile digital wallet with a variety of payment methods, both card present for retailer and card not present for e-commerce merchants.”

Radpay’s merchant card payment solution is said to enhance net margin by up to 200%. The firm’s technology is compatible with card-present and card-not-present environments.

This August, Radpay introduced a new technology called SpeedPath. The technology is designed to allow merchants to accept digital wallet payments even when the customer is not in front of the cash register.

 

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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