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Start-up of the Week: Radpay, acing game of card payment with ledger tech

Radpay's operation revolves around a patent-pending merchant card payment solution

Financial technology or fintech is a term used to describe the bracket of financial institutions, using disruptive technologies, working towards giving quick, efficient and personalised products and solutions as per clients’ financial needs. The use of artificial intelligence, virtual assistants, data analytics, specialized software and algorithms have become part and parcel of this sector.

Businesses and individual customers are getting their financial operations done in a nimble and paperless manner, instead of going to a bank branch, standing in the queue and then getting entangled in the documentation procedures. Fintech’s motto is all about understanding the customers’ needs and then drawing up a tailor-made financial solution, all on very short notice.

Fintech has transformed 21st-century banking. Legacy lending institutions now understand the worth of giving quick and hassle-free customer service, as they absorb more of these disruptive techs within their operational folds.

This sector, since 2018, has seen a steady flurry of start-ups. Elias Ghanem, Global Head of Marketing Intelligence at Capgemini Financial Services, while explaining the phenomenon to IDG Connect, remarked, “One of the most pertinent growth drivers is changing customer expectations – especially among the millennials – towards digitised services. More and more millennials and tech-savvy consumers are turning towards non-traditional players such as fintechs, bigtechs and challenger banks for an enhanced digitised experience in areas such as payments and lending.”

“Secondly, fintechs have shown an agile mindset coupled with risk-taking behaviour in exploring disruptive technologies. With their innovation-oriented start-up culture, they are attracting funding, [from those] who want to be part of the next disruption in the financial industry. In a way, fintechs are like an extended body for the banks to take a risk and bring in innovation,” he added further.

One such start-up is Radpay works as an online payment solution, which helps customers pay faster for their purchases, resulting in a reduced number of cart abandonments. Radpay also connects blockchain with Payment Card Industry (PCI)-compliant card payment and banking infrastructure, apart from ensuring secure transactions for merchants through a combination of mobile apps, browser plugins, application programming interfaces (APIs), pre-configured e-commerce cart plug-ins, and credit card terminal apps.

Knowing The Company In Detail

Radpay’s operation revolves around a patent-pending merchant card payment solution. Under this, over two dozen inventions blend distributed ledger technology with PCI-compliant card payment infrastructure and smartphone devices to merge users’ convenience, security, and transparency. Radpay is a blockchain-based peer-to-peer payment processing and reward framework, based on Ethereum, thus providing one-stop and foolproof transactional solutions to consumers, banks and businesses. Radpay also improves a business’ net margin by as much as 200% through its merchant card payment solution.

The US-based company, established in 2018, is headquartered in Arizona. It is led by its CEO and founder Dana Love. Dana is a 32-year technology veteran who has been active in the industry of bitcoin and blockchain since 2011.

He was recognized as a fintech innovator by both ‘500 Startups’ and the ‘Arizona Commerce Authority’. Dana, who has a doctorate in public policy economics from the University of Glasgow, apart from being a Harvard Business School Baker Scholar, and a graduate from the University of Richmond, started his career in civilian service to the US government. He was also the CEO of American military contractor Bright Dawn from 2007-12. He also played leadership roles in ventures such as MentorCloud, Feedback Networks, Children’s Learning Adventure, Hatch Early Learning, Infolob Solutions etc.

The company has a total funding of USD 1.4 million currently, with Arizona Commerce Authority, BlackLaunch and Resiliency Ventures being the investors for Radpay.

On February 11, 2020, Radpay added Carlyle Group co-founder Stephen L. Norris to its advisory board. Norris has been entrusted to provide guidance on international governmental and finance matters to the CEO Dana Love.

“Steve’s accomplishments are considerable, and his demonstrated expertise in global financing underscores his knowledge of the global markets in which Radpay operates. I welcome Steve to the Radpay board and look forward to working closely with him and benefiting from his incomparable guidance,” Dana remarked on Norris’ recruitment.


The Fintech sector is known as an experimental field for start-ups, who burst up into the scene with disruptive technologies and business models, challenge the legacy banks and rewrite the playbook again and again. Radpay has been one such success story so far.

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