Key Data

• Trading Name: Rapyd (prev. CashDash)
• Legal Entity: Rapyd Financial Network (2016) Ltd, CASHDASH UK LIMITED, RAPYD EUROPE HF., RAPYD HOLDINGS PTE LTD. RAPYD AGGREGATOR NETWORK INDIA PRIVATE LIMITED, Rapyd Holdings Pte. Ltd.
  
• Activities: payment processor and merchant service provider
• Location: Israel, United Kingdom and others
• Authorization: CashDash UK Limited is an FCA-authorized E-Money institution (EMI), Rapyd Europe hf. is an EMI under the supervision of the Central Bank of Iceland.
  
• Related individuals: Ariel Shtilman, Arik Shtilman, Arkady Karpman, Omer Priel, Sarel Tal, Maayan Naor, Dennis Allen, Kevin Carey
  

Rapyd Financial Network (2016) Ltd was founded in 2016 in Israel by Arik Shtilman, Arkady Karpman, and Omer Priel. Rapyd Financial Network (2016) Ltd was formerly known as CashDash.

The Offering

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 allows merchants to issue their own pre-funded cards that can be used for buying items in a store, withdrawing cash from ATMs, or purchasing online.

Moreover, Rapyd also offers investment early-stage investments for fintech ventures.

Fees: For payments with cards, Rapyd charges as follows

• Europe 1.2% plus €0.25
• Iceland 0.5% plus €0.12
• United Kingdom 0.5% plus £0.10
• Americas: 2.0% plus $0.30
• Asia 3.25% plus $0.30
• Africa and Middle East: price quotation on request

Conclusion

Rapyd is a regulated EMI. However, the fintech has only 2.8 stars on Trustpilot and a corresponding “Average” trust level. Especially in the last months, merchants have complained significantly about payouts and account freezing.

FinTelegram has already found Rapyd to be a payment facilitator in some scams. The Rapyd VP EMEA used to run the notorious Cypriot payment processor AlgoPay which facilitated binary options scams. Therefore, we include Rapyd in our “Orange Compliance” list.