A partnership has been introduced between Crimson Dot Cost (RDP), an eCommerce enabler centered totally on serving the eCommerce and hospitality verticals, and Radar Funds by BPC, a next-generation cost processing firm, as the previous looked for a world eCommerce fraud prevention accomplice.
RDP has chosen the Fraud Danger Administration and Prevention options delivered as a SaaS mannequin from Radar Funds after reviewing different fraud detection methods. Their selection was influenced by its peerless technological capabilities and ease of integration, in addition to its affordability and excellence in account administration.
Established in 2011, RDP was based by Randy Tan, who nonetheless leads the corporate as its CEO. Initially beginning in Singapore, RDP has expanded to different areas, with native workplaces in Australia, Indonesia, Taiwan and Thailand, and additional enlargement provisionally deliberate in Japan, Hong Kong and Malaysia. In July 2019, the fintech and ePayment enterprise PayU took a majority stake.
RDP was ranked #35 out of 500 firms within the Monetary Occasions’ particular report on high-growth firms within the Asia Pacific after demonstrating phenomenal income progress of 171 per cent CAGR. They have been additionally ranked Prime 10 Quickest-growing corporations in Singapore by the Strait Occasions in 2020.
Earlier this yr, RDP grew to become a principal member with each Visa and MasterCard. They’re already an acquirer for AliPay, Diners Membership Worldwide, WeChat Pay, and Union Pay, with a cost suite that features AMEX, PayPal, PayLah and PayNow (SGQR) and lots of different various native cost strategies within the respective international locations they function in.
RDP number of Radar’s Funds Fraud Danger Administration and Prevention service comes at a time when the variety of on-line cybercrime rises resulting from digitisation world wide. The know-how developed by Radar Funds was not solely singled out for its finest in school efficiency but in addition its confirmed monitor file in serving to monetary establishments and companies of all sizes to sort out vulnerabilities inside the digital ecosystem for customers throughout areas.
David Owyong, COO, Crimson Dot Cost, commented: “We consider that conquering eCommerce fraud requires a world perspective, and we delight ourselves on working intently with our retailers to assist them harness the ability of funds. As we overcome the turbulence of the previous 24 months, we consider that the hospitality sector is the subsequent business the place we’ll witness big advances in eCommerce. With the assistance of Radar Funds, we’ll proceed to help native retailers on this subject in addition to create a safe surroundings for worldwide firms with ambitions to serve customers in Southeast Asia.”
Terry Paleologos, COO at BPC stated: “We’re thrilled to be serving to one among Singapore’s fastest-growing firms to develop even quicker, by guaranteeing that they’ve best-in-class fraud prevention service which comes with unparalleled experience and native insights that do assist take away any friction to the client cost expertise.”