ReD, a leading global provider of fraud prevention and payment services, has announced the launch of its ReD Shield online fraud prevention service for PayU South Africa, a prominent online and mobile payments provider in the region.
Headquartered in Cape Town, PayU processes approximately 65% of the e-commerce transaction value in South Africa. Under a three year deal, PayU will be rolling out ReD Shield to help its e-commerce customers across South Africa in the battle against online fraud.
The launch for PayU South Africa is one of two contracts recently secured with the group, with ReD also providing the ReD Shield fraud prevention solution to PayU's merchants in India. Both services successfully launched in September and the solution is now available to PayU merchants in both countries.
The integration of ReD Shield into PayU's payment environment means that new merchants can now be up and running, with online payments protected instantaneously. Larger merchants and those with complex or distinct requirements can also take advantage of ReD's team of expert analysts to create more highly tailored deployments of the solution.
ReD Shield® uses an unlimited number of variables and an unrivalled global database of 'hot' cards to detect and prevent online fraud for many of the biggest companies in the world across the retail, banking, travel, gaming, telecom and broader ecommerce sectors. For every transaction, it acts in a split-second to assemble and analyse information and determine whether or not a payment is genuine.
ReD is widely recognised as employing some of the best risk analysts in the industry and has an established presence in South Africa, with local offices in Cape Town. The company already collates and distributes South African negative card files on behalf of issuing banks, providing up-to-date details of lost and stolen cards as they are reported across the country.
Commenting on the contract with ReD, Mark Chirnside, CEO of PayU Middle East and Africa, said: "We chose ReD for their unrivalled fraud expertise, speed of service and their ability to provide a tailored solution to meet our needs. Their global footprint and strong preseence in South Africa were also deciding factors for us."
Kami Boyer, Director International Partnerships and Alliances at ReD, commented, "We will provide PayU and its merchants with a simple method of combining excellent payment transaction services with 'real-time, all-the-time' fraud prevention, through a single connection. We are delighted to have been selected by PayU and look forward to supporting the company as it expands into new continents."