UK-based Retail Decisions (ReD) has inked a deal to provide card-not-present (CNP) fraud prevention services to US e-payments processor First Data.
The agreement enables First Data to offer ReD's CNP fraud prevention service through its payment processing platform, which is used by online merchants worldwide.
First Data says the ReD technology will provide merchants with multi-layer fraud prevention, which will reduce chargebacks and manual validation expenses.
Commenting on the deal, Pam Patsley, president, First Data International, says: "With ReD, our clients now have ability to access a powerful and comprehensive risk management tool that will reduce fraud cost and allow retailers around the world to expand their business and safely accept payment transactions."
Carl Clump, CEO of Retail Decisions, adds: "This will enable First Data's merchants to reduce their fraud and to enhance customer relationships, while at the same time increasing their revenue."
ReD shares were up 1.20% in mid-afternoon trading to 145.75 pence.