Rapyd rolls out cross border fraud prevention solution

Rapyd, a global Fintech as a Service provider, has launched Rapyd Protect, a fraud solution designed to protect businesses and consumers against fraud across countries and payment methods.

With the growing use of Alternative Payment Methods (APMs) globally, Rapyd Protect provides a defence against global fraud while assisting merchants to confidently offer customers their preferred payment method.

According to The Nilson Report, global card fraud is projected to reach over USD 37 billion in the next five years. Moreover, the Association of Certified Fraud Examiners reported in its global study that organisations lose an estimated 5% of revenue to fraud each year. As alternative payments such as ewallets, RTP networks, and bank transfers grow in popularity it is critical that businesses have access to solutions designed to protect both themselves and their customers from fraud.

Rapyd Protect is a fraud solution embedded in a large global payments network, which supports cards and over 900 APMs. The solution is based on fraud decisioning models and proprietary data sources fed by its global payment network operating in over 100 countries. The scale and breadth of its global transaction footprint provides multifaceted fraud protection available globally from a single platform.