Reap has launched Reap Sentry, a managed card fraud and risk service for card programmes. The Hong Kong-headquartered financial technology company said it manages a client's transaction risk from end to end, from configuring fraud rules and screening authorisations in real time to investigating alerts, processing chargebacks and reporting confirmed fraud to Visa, the company said. Clients do not need to build or license additional fraud monitoring tools, or hire a dedicated fraud team.
Sentry is built on technology within Reap's issuing portfolio and combines fraud policy, tooling and day-to-day operations. The company said its controls are informed by fraud patterns observed across a portfolio built over eight years of card issuance and millions of cards, and are tailored to each client's business profile, including cardholder segments, geographic footprint and stated risk appetite. Harris Leow, head of product at Reap, said companies starting a card programme typically need specialist tooling, dedicated expertise and months of preparation before issuing a card, and that Sentry takes on that function using Reap's controls, data and specialists.
The service screens transactions and declines suspected fraud in real time at authorisation, triages and investigates alerts, and updates controls as new threats emerge, including BIN attacks and merchant breaches, according to the company. It also processes and represents chargebacks submitted by clients, reports confirmed fraud and provides program performance reporting on an agreed cadence. Controls are reviewed and refined as a programme evolves without client intervention, and clients integrate through a single Reap API.
Reap said it protects the authorisation layer it operates and observes, while clients retain responsibility for the cardholder relationship and key first-party fraud entry points, including onboarding, identity verification and account access.
Card fraud losses worldwide totalled USD 33.41 billion in 2024 against global card volume of USD 51.920 trillion, figures Reap cited from The Nilson Report. Sentry is available to new Reap card issuing clients and to existing clients at contract renewal, on Reap's own API.
