eWay selects ReD to protect merchants from online fraud
07 November 2012 | 2713 views | 0
Source: Retail Decision
ReD, a leading global provider of fraud prevention and payment services, is providing its ReD Shield® online fraud prevention service to protect merchant customers of eWAY, an award-winning online payment gateway and one of Australia's fastest growing businesses.
eWAY provides payment services to more than 11,500 small and medium-sized enterprises (SMEs) in Australia, New Zealand and the United Kingdom. The company has integrated the ReD Shield service into its payment processing service to provide enhanced, real-time fraud protection for online payments. eWAY's Beagle Alerts use ReD Shield's sophisticated risk analytics and tailored rule sets to check every transaction in real-time against a global database of credit card information, alerting the merchant to any suspicious transactions.
Alerts can be provided to merchants via an innovative mobile app, sending notifications of suspicious activity directly to a merchant's iPhone or iPad. In this way, merchants can process or reject a challenged transaction in a matter of seconds, wherever they are.
The ReD Shield service incorporates risk models and rule sets that are specifically tailored to individual sectors and businesses. For every transaction, ReD Shield acts in a split-second to assemble and analyse information and determine whether or not a payment is genuine. The service is backed by ReD's risk analysts, who have deep experience of fraud patterns around the globe and access to a vast global database of 'hot' cards which is used to help detect and prevent online fraud.
Matt Bullock, CEO and founder of eWAY, commented, "By enabling Beagle Alerts, our merchant customers can maximise their revenue opportunities and enhance the purchase experience for their customers, whilst reducing their exposure to chargebacks and fraud. That's a compelling proposition, made even more attractive by a mobile app that puts fraud prevention at every merchant's fingertips. With ReD as our partner, it's a proposition we can support with confidence, not only for merchants in Australia but also as we expand our services into the UK and Asia."
Paul Avery, regional president for ReD in Asia Pacific, added, "We are proud to be partnering with eWAY, one of Australia's most savvyy and innovative payment companies. ReD Shield is a robust and reliable fraud prevention solution used by some of the largest ecommerce merchants around the world and well capable of meeting eWAY's needs as the business grows across Australia and around the world."