ReD, a leading fraud prevention provider, has announced a new 5 year global partnership agreement with Peach Payments, to provide the ReD Shield online fraud prevention service to ecommerce merchants in the high growth markets of Africa and India.
Peach provides payment solutions to online and mobile businesses and specialises in supporting payments in the African and BRIC* markets. Although the new partnership is a global one, ReD and Peach will be working together initially to focus their offering on the fast growing ecommerce markets of South Africa and India. Here, the industry-leading ReD Shield solution will support online merchants as they take advantage of the surge in online spending which has now reached around 30% year-on-year growth in both countries.
Merchants already using the Peach Payments platform can also now seamlessly access ReD Shield without the need for additional technical integration.
Rahul Jain, COO and co-founder of Peach, commented: "Africa and India are among the fastest growing ecommerce hotspots in the world. However, the nature of these markets means there is a lack of experience in detecting and managing online fraud. As a result, merchants in these countries are increasingly the target of fraudsters who are finding it harder to defraud merchants in the US and Europe. Our geographic focus makes it important for us to ensure that our merchants have access to the most advanced tools to help them combat and prevent fraud. We chose to work with ReD so that our merchants could have seamless access to both a superior transaction processing platform and a best-in-class fraud prevention solution. ReD's global footprint and understanding of our target geographies positions them well to provide expert advice and highly effective fraud prevention strategies in support of our existing and future customers."
Manish Patel, Regional President EMEA & LATAM at ReD, added: "We have been working to build up our presence in fast growing markets where our expertise and solutions can help online merchants to confidently execute their growth strategies while countering payment fraud. We are delighted to be working with Peach Payments to support their ecommerce customers and we look forward to expanding the breadth of our partnership over the coming years."