Reap, a global FinTech company that enables financial connectivity and access for businesses worldwide through stablecoin-enabled infrastructure, has launched Reap Sentry, a managed fraud and risk service built for card programmes.
Through Sentry, Reap takes on a client’s full transaction risk management workload, from setting fraud rules and screening authorisations in real time to investigating alerts, handling chargebacks and reporting confirmed fraud to Visa. Clients no longer need to build or licence separate fraud-monitoring systems, nor recruit an in-house fraud team.
The launch responds to a fraud problem that is both large and fast-moving. Card fraud losses reached $33.41bn globally in 2024, against total card volume of $51.92tn, according to The Nilson Report. Because every card in circulation is an active payment instrument and authorisation calls are made in milliseconds, fraud has to be intercepted at the point of authorisation rather than dealt with afterwards, since the secondary costs of a fraud incident can outweigh the loss itself. Attack methods also continue to shift, turning fraud management into a constant operational task rather than a one-off setup.
Sentry draws on the infrastructure behind Reap’s own card issuing business. Having issued millions of cards over eight years, Reap applies fraud patterns learned across its whole issuing portfolio to build controls that are then adapted to each client’s cardholder base, geographic reach and risk tolerance.
Day to day, Sentry screens transactions continuously, declining suspected fraud at the moment of authorisation, triaging and investigating flagged alerts, and updating its controls as new threats, such as BIN attacks and merchant breaches, emerge. It also manages chargeback processing and representment, reports confirmed fraud, and delivers programme performance reporting on a set schedule. Controls are adjusted as each programme develops, without needing input from the client, and the whole service connects through a single Reap API.
Responsibility is split along clear lines: Reap covers the authorisation layer it monitors and operates, while clients continue to manage the cardholder relationship, including onboarding, identity verification and account access.
Reap head of product Harris Leow said, “Most companies launching a card programme have to build a fraud function from day one. Doing so requires specialist tooling, dedicated expertise and several months of preparation before they can safely issue a single card, by which point the threat landscape may already have shifted. That is rarely how a team wants its first months to go.” He added, “Sentry takes on that entire card fraud function: our controls, data and specialists, tailored to each card programme.”
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