Tunic Pay, founded by Nicky Goulimis and Nico Barawid, helps protect people from scams during online payments. The company focuses on making these payments safer by studying how scammers work and improving the overall security. They are also working on ways to help people get their money back if they fall victim to a scam, aiming to make online payments safer for everyone..

Scams, which represent 40% of all financial crime in the UK and have led to $10 billion in reported losses in the US, present significant challenges as they involve victims voluntarily transferring funds, making detection difficult. The rise of AI has exacerbated these challenges, enabling more efficient and widespread fraudulent activities.

Tunic Pay is addressing these issues by establishing a governance layer for real-time payments through its Intelligence Interchange. Tunic Pay distinguishes itself in the industry by setting a new standard in fraud prevention with its proactive and comprehensive approach to real-time payment

Tunic Pay in FOUR:

What problem is Tunic Pay solving? Tunic Pay addresses the growing issue of online payment scams, particularly those where victims willingly transfer funds, making detection difficult. The company aims to protect people from these scams and help them recover lost funds.

What’s innovative about Tunic Pay? Tunic Pay stands out by creating a governance layer for real-time payments through its Intelligence Interchange, which sets a new standard in fraud prevention. It proactively analyzes scam tactics and integrates fraud prevention measures seamlessly into the payment process.

Who can use Tunic Pay? Tunic Pay can be used by banks, financial institutions, and businesses that handle online payments, helping them secure transactions and protect their customers from fraud.

Who are Tunic Pay’s partners? Tunic Pay works with financial institutions, regulatory bodies, and tech companies that focus on payment security and fraud prevention, ensuring its solutions meet the highest industry standards.