Two ground-breaking players in the world of secure commerce have announced a partnership to provide application developers and smaller merchants simple and fast access to e-payment fraud prevention services.
IP Commerce, the leading open payments platform, has signed an agreement with Retail Decisions (ReD), the world-leader in card fraud prevention, to offer its ReD Shield technology.
Through IP Commerce's open payments platform software companies, developers and their merchants now have a simple method for combining payment transaction services with 'real-time, all-the-time' fraud prevention, through one single connection.
The availability of ReD Shield promises substantial new advantages for tier two and tier three retailers. They can now quickly and simply access the same online commerce capabilities as many of the world's biggest players, already using ReD Shield to avoid millions of dollars in losses each year to card fraud.
And this integration comes at an impressive speed. Through IP Commerce's open payments platform ReD Shield is up and running instantly, so the financial benefits of ReD Shield quickly kick in.
ReD has a proven track record of increasing its clients' revenue while minimizing losses from fraud thanks to the sophisticated, multi-dimensional approach of its world leading payment fraud prevention service, ReD Shield. Using an unlimited number of variables and an unrivalled global database of 'hot' cards, ReD Shield detects and prevents fraud for many of the biggest companies in the world, including airlines and travel, retail, gaming and telecoms. With every transaction it acts in a split-second, assembling and analyzing information, to determine whether a payment is genuine or not.
"This is an exciting development for us and significant news for tier two and tier three online retailers who are constantly under threat from fraud," said Carl Clump, CEO of ReD. "With dozens of software companies joining IP Commerce each week, ReD will reach a vast new audience and bring its services to the wider retail market - rejecting more fraudsters and substantially benefitting the payments community."
"Many of the acquirers and processors, who leverage our platform to recruit and integrate software companies to their services, have been requesting risk services to be available for their merchants," said Peter Osberg, Head of Sales and Marketing, IP Commerce. "Our software development community needed a risk solution to address a growing need for enhanced fraud prevention in the payments workflow. We chose ReD because of their leading expertise and unique product - which is second to none."