• Sun, 08 Dec 2019, 05:35 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

Blockchain-based payment processor RadPay secures $1.2M in a series seed round

Decentralized payment company RadPay has reportedly raised $1.2 million in its series seed round and the money will be allocated for the company’s growth a test program slated to launch in January.

Image via RadPay Facebook Page

Tue, 19 Nov 2019, 08:50 am UTC

RadPay, an Arizona-based decentralized global payment processing company, has reportedly raised $1.2 million in a series seed round.

In a press release published by the company on Nov. 18, it highlighted that the funding will be allocated towards marketing campaigns, technology commercialization, and expansion of the company’s invention portfolio.

RadPay also boasts that the funding experienced a 20% oversubscription, with investment firms BlackLaunch and Resiliency Ventures participating in the round. Also, investors from Nebraska and Arizona have also joined in on the action, a testament to the promise that RadPay presents.

Upgrading the traditional payment system

The company aims to expedite the evolution of the payment processing industry, something that needs a major upgrade due to traditional payments charging exorbitant fees on merchants and customers. Radpay’s cofounder and CEO Dana Love underscored RadPay’s significance in this sector and said that they aim to lift the burden that’s been placed on the shoulders of the consumer.

“Our company was built on the premise that accepting charge cards need not cripple merchants with high fees and that using charge cards need not saddle consumers with crippling debt. Since our founding in 2018, we have led the pack in innovating on behalf of e-commerce merchants. This additional capital along with our extensive industry and customer partnerships sets us on a course that will bring transparency, innovation, and value to the stagnant payment processing industry,” Dana said.

RadPay to push merchant net margin

According to the release, RadPay can potentially increase the net margin of businesses by 200% through its patent-pending merchant card payment solution. This solution is an amalgamation of more than five dozen inventions that incorporate distributed ledger technology with PCI-compliance card payment standard to provide a secure, transparent, and efficient system.

RadPay’s co-founder and CTO Jared Stauffer said that they’ve been hard at work in streamlining the payment industry in a bid to deliver value to consumers. The service will be available for testing in January, with the funding used to ensure the pilot’s success.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,509.69 (-0.86%)
  • Ethereum (ETH) $148.91 (-0.53%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $212.30 (-1.22%)
  • Litecoin (LTC) $45.67 (-0.52%)
  • Bitcoin (BTC) $7,509.69 (-0.86%)
Dec 6, 2019 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: LTC/USD extends sideways, finds strong support at 42.45 (Trendline)
South Korean consortium to provide blockchain-based ID services via mobile app in 2020
Crypto Technicals: BCH/USD intraday bias turns slightly bullish, scope for test of 20-DMA (220.99)
Bitfury launches enterprise blockchain platform ‘Exonum Enterprise’
CULedger reveals an EFT payment solution for credit unions in collaboration with R3, Luxoft
Reserve Bank of India governor against the development of private digital currencies
Ripple asks court to dismiss XRP securities lawsuit in latest filing ahead of court meeting
Crypto Technicals: ETH/USD struggles to extend recovery, finds stiff resistance at 200H MA at 149.77
Blockchain firm Figure Technologies hits $1.2B valuation after closing $103M Series C round
Blockchain firm ChromaWay acquires Antler Interactive after setting up its gaming arm Chroma Studios
Galaxy Digital-backed Flipside Crypto hires Accenture Managing Director Matt Bridges as COO
Crypto Technicals: BTC/USD rangebound in the Asian session, struggles at 200H MA
Canadian mining firm goes belly up; Owes local, federal government hundreds of thousands
New crypto derivatives trading platform Phemex can manage 300,000 TPS, says core developer
Microsoft creates blockchain-based incentive scheme with Enjin to recognize active members of Azure community
Dec 5, 2019 (Thursday)
Dunamu’s crypto subsidiary DXM partners with Ledger to launch custody service for institutional clients
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.