Decentralised global payment processing firm Radpay has incorporated a patent-pending fraud resistance functionality into its digital wallet.
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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe 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.
