The CyberRating agency has analyzed the FCA-authorized E-Money Institute Rapyd and added it to its Orange Compliance list. Founded by Israeli Arik Shtilman, Arkady Karpman, and Omer Priel in 2015 as CashDash and later renamed Rapyd, the institute not only has an abysmal Trustpilot rating according to PayRate42’s findings but also operators of scams among its merchants. The company’s VP EMEA, Sarel Tal, has a history with the binary options scam facilitators AlgoPay and Seroph International.
Rapyd provides an API-based “fintech-as-a-service” platform covering payments, banking services, and fraud protection. Rapyd offers a multi-country card issuing API that gives merchants the ability to issue their own pre-funded cards that can be used for buying items in a store, withdrawing cash from ATMs, or purchasing online.