Meet Pangea Meet Pangea

Pangea launched operations in late 2014 with the goal of establishing a cost-effective and convenient cross-border online remittance service. At the time, immigrants and migrant workers lacked access to a financially transparent service that would allow them to safely send hard-earned money to their families overseas. Today, Pangea is a successful, socially-minded business serving thousands of customers daily. Not only do Pangea clients enjoy a flat transfer fee and instant online access to exchange rates, but they can also safely move money across borders in real time. There is no doubt Pangea has touched the lives of those genuinely in need – securing consumers’ trust and improving their financial freedom – while experiencing 300% growth YoY.

“We needed a partner who doesn’t sleep, a vendor like Riskified who could review transactions in real-time - 24/7 - without jeopardizing the unique customer experience we value so highly.”
Natalia MacWilliam
VP Risk & Compliance

The Challenge The Challenge

Within the first few months of operations, Pangea had already incurred considerable fraud-related chargebacks. As an emerging business, turning away good customers due to fear-of-fraud would severely impact their ability to acquire new customers. Given their intention to rapidly expand services, Pangea realized they’d need to find a reliable fraud solution expert to mitigate the impact of fraud-related losses on their bottom line and on their ability to achieve key business goals.

The Challenge
“The pricing structure aligns our objectives so Riskified only gains when they approve transactions for us. They have the incentive to minimize risk, while letting in as many good customers as possible.”
Natalia MacWilliam, VP Risk & Compliance
Natalia MacWilliam
VP Risk & Compliance

Choosing a Solution Choosing a Solution

When searching for a solution, Pangea initially considered a number of vendors offering scoring systems. But signing up to one of these meant an internal fraud management team would still need to manually review and decide on the final outcome of every order. Riskified’s capacity to provide ‘approve’ or ‘decline’ decisions in real time, was therefore appealing. As was their extensive experience managing fraud in mobile sales – 95% of Pangea’s order volume is sent from mobile devices. However, it was Riskified’s incentivised pricing structure, combined with a 100% chargeback guarantee, that really tipped the scales.

Choosing a Solution