Fast and secure crypto payments for e-commerce merchants

RMIT’s joint Cooperative Research Centre Project (CRC-P) with Novatti on Fraud Detection.

The global Cryptocurrency (Crypto) market is an emerging means of exchange, valued at $3.12 trillion, with a 21% increment in daily transactions (2020-21). Despite the size and growth, diverse security and operational impediments pertinent to the currencies’ liquidity and safety limit its usability.

In partnership with Novatti Group, thankQ Solutions Pty Ltd and Swyftx, RMIT University through this project will develop a digital platform consisting of novel anti-fraud and anti-money laundering techniques, to align Crypto transactions with traditional payment options such as credit cards.

This project will develop a digital platform consisting of novel anti-fraud and anti-money laundering techniques, to align Crypto transactions with traditional payment options such as credit cards. It will allow consumers, merchants, and exchanges to acquire, verify and transfer Crypto with trust and scalability while conducting daily business The project will modernise Australian industries to take the lead in leveraging such currencies globally.

Researchers, Zahir Tari, Nasrin Sohrabi (Deakin University) Md Redowan Mahmud (Curtin University), Matt Warren, Hai Dong and Qiang Fu, were successful in a joint bid for an Australian Government Cooperative Research Centres Project (CRC-P), receiving over $2.3 million in funding to address the diverse security and operational impediments pertinent to the crypto market with the goal to improve its usability.

Stay tuned for more information on this project and how it progresses.

04 July 2024

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04 July 2024

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