Nexway Partners With ReD for Real Time Payment Fraud Prevention
By Retail Decisions red, PRNEThursday, June 24, 2010
LONDON, June 25, 2010 - Retail Decisions (ReD), the world leader in payment fraud prevention, is
pleased to announce a partnership with Nexway, the European leader for the
digital download distribution of software and games.
Nexway offers its clients a hosted platform to facilitate
online sales and digital content distribution, with services including secure
payments. Nexway has partnerships with many leading companies such as Dell,
Orange, Lavasoft, Nero, EA and Atari in over 50 countries.
In order to handle an anticipated increase in transaction
volumes, associated with its rapidly expanding business, Nexway needed to
upgrade its payment fraud prevention. Nexway will be integrating ReD's
proprietary ReD Shield(R) fraud prevention service, to protect all of
Nexway's clients.
ReD Shield takes a multi-dimensional approach to fraud prevention for
payments conducted online, over the phone or by mail-order. Large numbers of
data variables are analysed and this information is pieced together to help
Nexway determine whether a transaction is genuine or not. This is all
conducted instantaneously enabling Nexway to provide a seamless customer
experience. The fully outsourced service is proven and typically reduces
merchant fraud to well below 1% whilst increasing revenues.
ReD Shield combines neural technology with customised, merchant-specific
velocity and compound rules. The service is managed by a team of highly
skilled risk analysts who are continually monitoring changing fraud patterns.
ReD provides a real-time risk assessment recommendation which allows Nexway
to find the precise balance between preventing fraudulent transactions and
maximising good transactions.
Since ReD has clients across many sectors and countries, fraud data
identified in one sector or location is pooled to enhance the decision making
process and prevent fraud across its entire client base. ReD has more than 20
years' experience in the fraud prevention market. Its expertise is based on
the 16 billion transactions it screens for fraud across 172 countries each
year.
Carl Clump, ReD CEO comments "We are very pleased to be
partnering with Nexway to provide fraud prevention. Our cross-sector
expertise, international presence and instantaneous decisioning means we are
best placed to protect Nexway and its growing and diverse client base."
Franck Giroudon, COO of Nexway, comments, "Each time we cooperate with a
new client, the number of transactions that we handle increases tenfold. We
needed a highly scalable and secure solution for our partners in addition to
a faultless and fast customer experience. We selected ReD because of its
fully managed, best of breed service and its experience in instantaneous
decision-making, which is particularly important in the digital download
industry. ReD also has the capability to handle huge transaction volumes with
unsurpassed processing speeds on a global basis."
With additional partnerships in the pipeline, Nexway will be experiencing
rapid business growth in coming months, internationally. The company clearly
singled out ReD Shield for its tailored and scalable approach to fraud
prevention. Also, the non-intrusive way in which ReD Shield works, means that
fraud is minimised without a negative impact on the customer experience.
NOTE TO EDITORS:
About Retail Decisions
Retail Decisions (ReD) is the world leader in online payment fraud
prevention with over 20 years professional expertise. ReD screens some 19
billion transactions annually for international blue chip clients across 172
countries.
ReD's blue-chip international clients come from the global
telecommunications, retail, travel, petroleum, banking and the broader
e-commerce sectors.
More information about ReD please visit: www.redplc.com
Contact: Carl Clump, CEO Retail Decisions Ltd (ReD) Tel : +44(0)1483-794926 Email : ceo@redplc.com
Contacts: Carl Clump, CEO, Retail Decisions Ltd (ReD), Tel : +44(0)1483-794926, Email : ceo at redplc.com ; Angela Yore, PR Office, Mobile: +44(0)7738-822956, Email : angela at skyparlour.com
Tags: June 25, London, Retail Decisions (ReD), United Kingdom