London, June 28, 2012 – ReD today announced a global partnership with SecureTrading, a leading independent UK payment processor. Under the multi-year deal, ReD will equip SecureTrading with its highly regarded ReD Shield® real-time fraud prevention solution, to support the processor’s global expansion.
ReD Shield® will form the main component of SecureTrading’s Protect Plus fraud prevention service, giving merchants the confidence to expand into new markets and territories. ReD Shield® anticipates and responds to changing patterns of fraud ensuring SecureTrading’s merchants remain protected in all environments. The solution is both payment type and channel agnostic, future proofing SecureTrading’s merchants as their ecommerce strategies evolve.
“We saw real benefit in partnering with ReD’s world leading technology, supported by their team of experienced risk analysts,” said Daniel Holden, FD at SecureTrading. “ReD Shield® delivered through SecureTrading gives our merchants flexibility, efficiency and confidence: a winning combination in today’s global ecommerce marketplace.”
“As one of the most successful independent Payment Service Providers in the UK we’re seeing extensive growth across multiple sectors and geographies. While this is incredibly exciting, expansion into new territories can be challenging, so it’s imperative all aspects of our business support the same direction for growth. ReD and the ReD Shield® solution provide the strategic fit we are looking for.”
Protected by ReD, SecureTrading is offering a multi-layered fraud solution to merchants, utilising multiple advanced technologies to ensure that valuable transactions are processed while potentially fraudulent ones are identified and isolated. The solution combines unlimited rules with other data attributes, enhanced through the use of neural models. This delivers a holistic business solution that minimises fraud and chargebacks. ReD Shield ® has also been configured to ensure that good transactions are not unnecessarily rejected, protecting merchant revenue and customer loyalty.
Delivered as a managed service through an expert team of experienced risk analysts, ReD Shield ® will provide instant accept, challenge or deny decisions on ecommerce transactions. The system can anticipate and respond to changing patterns of fraud ensuring merchants remain agile in all environments.
Working in partnership, ReD’s analysts will also provide tailored fraud solutions and conduct in-depth risk assessments for SecureTrading’s large merchant clients. Manish Patel, President of EMEA at ReD, comments, “SecureTrading is focused on a number of sectors – including retail, social media travel, transport and gaming – that are also key markets for ReD. Their merchant base is closely aligned to our own and their focus on intelligent, sophisticated, future proof payment fraud prevention for their customers makes this an ideal partnership.”
ReD is a world leader in card fraud prevention and payment services. Independent of any card scheme, ReD is present at every stage of the payments value chain, supporting merchants, PSPs, issuers and acquirers, processors and switch networks in the fight against fraud.
As a participating organization on the board of the PCI DSS Security Standards Council, ReD plays a central role in setting standards for the payments industry.
ReD employs some of the world’s leading risk and fraud analysts and gathers data from more than 190 countries. The company serves customers across six continents, from telecommunications, retail, travel, petroleum, banking and broader e-commerce sectors. Customers include Chevron, John Lewis, Shell, T-Mobile, Tesco Mobile and Virgin Mobile.
SecureTrading, a leading UK independent Payment Services Group, processing billions of pounds worth of transactions across multiple currencies and territories each year. Leading retail, telecommunications, gaming, education and social companies trust SecureTrading to handle their payments every day. Merchants include Aurora Fashions (Coast, Oasis, Warehouse), Breast Cancer Care, Cancer Research UK, Karen Millen, London School of Economics, Merlin Entertainments (including Alton Towers, Legoland, Madame Tussauds and Thorpe Park), Mulberry, University College London and Vodafone.
SecureTrading’s independence means they work with a range of global acquirers and help merchants open new markets and revenue streams. Their patented business process supports Dynamic Currency Conversion (‘DCC’), as well as dozens of alternative payment methods and fund transfer solutions. SecureTrading also works with governments to help them define online payment regulation both in Europe and the US.
For more information please visit: www.securetrading.com.