Radial is the industry’s largest 3PL provider that offers integrated payment, fraud detection, and omnichannel solutions to mid-market and enterprise brands. Leveraging over 30 years of industry expertise, Radial rejects the one-size-fits-all approach, instead tailoring its services and solutions to align strategically with each brand’s unique needs.
Our team supports brands in tackling common eCommerce challenges, from maintaining delivery consistency to ensuring secure transactions. With a commitment to fulfilling promises from click to delivery, Radial empowers brands to navigate the dynamic digital landscape with the confidence and capability to deliver a seamless, secure, and superior eCommerce experience.
In a highly competitive world of online shopping, merchants grapple with combating fraud while contending with authentication and payment expiration concerns. Industry research underscores the severity of these issues, revealing that the U.S. card industry will lose $165.1 billion to fraud over the next decade. In the eCommerce payment industry, merchants must identify secure options for routing consumer transactions to reduce revenue losses and improve the customer journey.
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Radial’s open banking Pay by Bank solution facilitates direct fund transfers from customers’ bank accounts to merchants, presenting a significant departure from traditional credit card and wallet transactions. Pay by Bank ensures guaranteed payments by leveraging Link Money’s proprietary AI/machine learning model, providing merchants with confidence and eliminating the uncertainties associated with traditional payment methods.
“This is an example of a forward-thinking partner taking initiative over and above their existing payment providers to implement a payment method that merchants are asking for. By working with Radial, we will be able to deliver our cost-effective, more secure, Pay by Bank payment method to their merchants,” said Shaun Vanderkaap, Vice President of Strategy at Link Money.
The solution substantially boosts merchant profitability by reducing transaction fees by 70-80%, making it an economically favorable option. Compared to credit cards, Pay by Bank requires customers to authenticate payments in their trusted banking app, reducing the risk of fraudulent activity. Moreover, eliminating payment card expiration ensures a seamless and efficient payment process, saving merchants valuable time previously spent on revenue recovery efforts. With these advantages, Pay by Bank stands out as a transformative approach that addresses merchants’ market needs while equipping them with a distinctive and competitive edge in the evolving landscape of digital payments.
“With over 25 years of experience in payment processing and fraud management, we are committed to providing our merchants with the latest payment and fraud solutions through innovation and partnerships. Open banking is emerging as a transformative force in the eCommerce industry, offering a secure and appealing alternative to traditional payment methods for merchants and consumers,” said Yvan Gilliard, Senior Vice President of Payment Solutions & Omnichannel at Radial. “We are excited about the potential to leverage open banking, as it aligns with our vision and provides a refreshing and extremely user-friendly experience for all stakeholders. Our partnership with Link Money is a significant step towards revolutionizing the payment industry, and we are thrilled to lead this transformative journey.”
SOURCE: Businesswire