Reap launches managed fraud service for card programmes

Reap launched a managed fraud and risk service for companies that operate card programmes. The service provides ongoing transaction monitoring, automated and rule-based detection, machine-learning models, real-time alerts and investigation workflows to identify suspicious activity and reduce losses.

The offering is aimed at businesses that issue physical or virtual cards or run card networks for customers, including fintechs and corporate card programmes. Reap described the service as a managed option that combines automated detection tools with human review and a single point of contact for handling suspicious activity and disputes.

Features include transaction monitoring, rule-based and machine-learning detection, real-time alerting, investigation workflows, chargeback support, dispute resolution and reporting to help clients meet compliance requirements and maintain programme integrity. The company plans to integrate the service with existing card processing platforms and partner processors so clients can deploy it without replacing core systems.

Reap will offer tiered engagement levels that vary by transaction volume and the depth of managed services, from monitoring with alerts to full investigation and remediation handled on behalf of the programme operator. Pricing will depend on transaction volume and the scope of services selected. Implementation begins with an initial risk assessment and custom rules tuning based on the client’s card use cases and risk profile.

Clients receive a dedicated fraud operations group, predefined playbooks for common scenarios and regular performance reports showing blocked or reviewed transactions, dispute outcomes and trends in fraudulent activity.

The company plans to roll the service out to existing clients first and make it available to new partners in the coming months. The roadmap includes expanded analytics, additional payment network integrations and greater automation of dispute workflows.

Card issuers and programme managers are seeking managed risk services as payment volumes grow and fraud methods become more sophisticated, creating demand for solutions that reduce manual workload and shorten the time between detection and mitigation.