Business Daily Media

Men's Weekly

.

Red Dot Payment selects Radar Payments by BPC to take on global eCommerce fraud prevention

  • Written by PR Newswire

SINGAPORE, Jan. 5, 2022 /PRNewswire/ -- Next generation payment processing company, Radar Payments by BPC, has been selected to tackle eCommerce fraud prevention by Singapore's largest home-grown online payment solutions fintech Red Dot Payment (RDP), an e-commerce enabler focused primarily on serving the e-commerce and hospitality verticals.

RDP has selected the Fraud Risk Management and Prevention solutions delivered as a SaaS model from Radar Payments after reviewing other fraud detection systems. Their choice was influenced by its peerless technological capabilities and ease of integration, as well as its affordability and excellence in account management.

Established in 2011, RDP was founded by Randy Tan, who is still leading the company as its CEO. Initially starting in Singapore, RDP has expanded to other countries and regions, with local offices in Australia, Indonesia, Taiwan and Thailand, and further expansion provisionally planned in Japan, Hong Kong and Malaysia. In July 2019, the fintech and e-payment business PayU took a majority stake.

RDP was ranked #35 out of 500 companies in the Financial Times' special report on high-growth companies in the Asia Pacific[1] after demonstrating phenomenal revenue growth of 171% CAGR. They were also ranked Top 10 Fastest-growing firms in Singapore by the Strait Times in 2020.

Earlier this year, RDP became a principal member with both Visa and MasterCard. They are already an acquirer for AliPay, Diners Club International, WeChat Pay, and Union Pay, with a payment suite that includes AMEX, PayPal, PayLah and PayNow (SGQR) and many other alternative local payment methods in the respective countries they operate in.

RDP selection of Radar's Payments Fraud Risk Management and Prevention service comes at a time when the number of online cybercrime rises due to digitisation around the world. The technology developed by Radar Payments was not only singled out for its best in class performance but also its proven track record in helping financial institutions and businesses of all sizes to tackle vulnerabilities within the digital ecosystem for consumers across regions.

David Owyong, COO, Red Dot Payment, commented: "We believe that conquering eCommerce fraud requires a global perspective, and we pride ourselves on working closely with our merchants to help them harness the power of payments. As we overcome the turbulence of the past 24 months, we believe that the hospitality sector is the next industry where we'll witness huge advances in eCommerce. With the help of Radar Payments, we'll continue to support local merchants in this field as well as create a secure environment for international companies with ambitions to serve consumers in Southeast Asia."

Terry Paleologos, COO at BPC said: "We are thrilled to be helping one of Singapore's fastest-growing companies to grow even faster, through ensuring that they have best-in-class fraud prevention service which comes with unparalleled expertise and local insights that do help remove any friction to the customer payment experience."

 

 

Read more https://www.prnasia.com/story/archive/3622289_AE22289_0

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

THE FINE LINE WITHIN HILARIOUS SIGNAGE DESIGN FAILS

It seems like design failures still occur in today’s modern branding era, despite rigorous rounds of approvals behind the scenes. One signage show...

Deputy Announces Exclusive Global Partnership with Predelo to Bring AI to Shift-Based Businesses

Deputy, the global people platform for shift-based businesses, has announced an exclusive partnership with Predelo, an AI Decision Agent-as-a-Serv...

Leftover Budget? The Last-Minute EOFY Tip to Drive Business Success in FY25/26

The countdown is on. With just days left until EOFY, now’s the time to make your remaining 2024–2025 budget work harder and smarter. After workin...

pay.com.au appoints new CEO and Managing Director

The former COO will lead the company’s next growth phase, with ex-CEO Edward Alder transitioning into the role of Managing Director AUSTRALIA, 25...

Sell by LayBy