Solving the Fraud & AML Issues with Payment Applications & Blockchain Payments

One of the more common questions we have been asked related to both our Series A financingand the development of relates to fighting payment fraud and dealing with AML issues that currently plague blockchain payments.

This is a battle worth fighting, especially for a company that consolidates all payment applications and gateways into a single interface then processes cryptocurrency payments. Due to broad exposure, we believe that HadePay is well positioned to solve complex problems in the fraud prevention, compliance, and user verification space

Fortunately, we are tackling that issue with the work of computer engineer and AI specialist Ajinkya Lahade. Ajinkya is working on HadePay to refine a program he built that predicted fraudulent credit card usage with 99% dependable accuracy. We believe that applying such technology to a service like, which enables so many payment applications and processes cryptocurrency payments to be very important to ensure the service is not abused, and that we can identify, report, and even prevent such threats through the application of technology

See HadePay’s work with Ajinkya on machine learning products with HadePay (learn more)

What is the HadePay Fraud Detection program?

For those of you who are technical and care to know how we will architect a fraud detection program that will work collectively on more than 50 independent applications, and thereby improve the effectiveness of time-consuming AML compliance programs, first know how HadePay works, then understand that this applied algorithm will work separately from the main HadePay framework. We won’t have to worry about interfacing both, or applying this algorithm to each payment processor.


The above shows Ajinkya’s basic schematic of the credit card fraud detection, a similar model used in a program he previously proved successful. We will use Amazon Sagemaker to automate the process of gathering data and its classification on the basis of tuned algorithms.

We will create the basis of these tuned algorithms from the dataset provided by Kaggle, which has two million data points and will train our model to be deployed on Sagemaker. Then, we will test and refine our model for accuracy.

The transaction data that we believe will be important to gather for the purpose of accuracy will be:

  • Name
  • Date of Transaction
  • Time of Transaction
  • Address Associated
  • CVV

In theory, the model will train on fed data and at the same time continuously test the accuracy of itself. Once a user conflicts the preset parameters like “exceeding transaction frequency” or using the wrong CVV again and again, it will create a fraud report that can be generated into a report for FinCEN or delivered instantly to our admins for review. HadePay can instantly block access and report fraud to more than 50 credit card processors, payment applications, and gateways in extreme instances.

Of course we are still in the early development of this product, and are curious to hear your feedback both positive and negative. We look forward to presenting a crypto fraud prevention service soon that will accurately identify the owner of digital wallets and independently verify ownership before purchases/transactions are complete.

You local account manager will reach out for an introduction, then set up your hardware delivery and schedule a call with our product team if you have any special requests or needs. While this may sound like a lot, it is all to ensure you feel comfortable with HadePay and are getting the most from it. Altogether, you should be processing payments wktnk 48 hours of completing the registration.
We batch funds everyday, which means if you accept a card payment on Monday , the funds will reach your account on Tuesday or Wednesday at the latest.
Unlike our competitors, we personally work with all of our customers. None of our customers are numbers in a system. We understand their business models and needs. Therefore, in the event of a chargeback, not only do we have all the data to fight the chargeback, but we go to battle for our customers by understanding how the dispute originated. Conversely, large payment companies don’t take the time to fight chargebacks because maintaining their tier ratio is more important, and because they board merchants without understanding their models.
First off, that is horrible. No payment processor should ever put you in a contract. If you are in a contract, we ask that you give us a try for two months. It won’t cost you anything, and if you are happy, we will discuss buying out your contract. Yes, we have done that many times for our customers.
We offer two rate plans. The first is a flat rate of 2.5% per swipe or 3.1% plus 15 cents for every manual entry of card data. The second is a flat rate of 3% regardless of how it is entered. If you compare to our competitors, we are by far the cheapest.
No! None whatsoever.
You can always call your account manager any time for assistance, or call 1-844-HADEPAY and we will be there to help. You will never talk to an operator.
No. We are currently located in Florida, Georgia, Kentucky, Tennessee, Ohio, West Virginia, and Missouri, Illinois, and Arizona.
Just tell your account manager that you would like to get some static ads and video ads. Your manager will then communicate with our graphic designer and ad specialists to put together a package valued at $1,000 for absolutely free. They will even strategize with you on how to advertise, and in some instances, we will assist with that too.
If you need more than one device, talk to your account manager. We have customers who have upwards of 10 devices, so we can certainly meet whatever need you have.