New partnership to deliver integrated fraud prevention solution to merchants in high growth South African e-commerce market.
Johannesburg, South Africa, January 23, 2014 - (PressReleasePoint) - South African headquartered Payment Gateway, Setcom, has announced a new four year agreement with ReD, a leading global fraud prevention provider.
The agreement will make ReD’s industry leading ReD Shield® fraud prevention solution available to Setcom’s global merchant base, as part of an integrated fraud and payments offering.
The partnership will allow Setcom to offer ReD’s proven fraud and risk services to its wide range of clients worldwide. ReD will work closely with Setcom and its merchants to provide consultancy and expert risk advice to deliver tailored solutions.
Lee-Anne Porter, Vice President, Sales, Africa at ReD, commented: “The recent move to chip-and-PIN cards and the rapid growth of e-commerce in South Africa has created a corresponding increase in card-not-present (CNP) fraud.
As a result, effective real-time fraud prevention solutions are becoming essential for merchants in South Africa, in order to protect their businesses from fraudulent attacks and maximise revenue from genuine customers. This is where ReD’s proven solutions, international expertise and team of expert risk analysts can offer real value and tangible results. ReD is pleased to be working with Setcom to assist merchants at this crucial stage in the market’s development”.
Kumalan Naidoo, CEO at Setcom added: “Setcom is looking to not only drive e-commerce volume in a safe and secure manner, but also to promote online retail and encourage young entrepreneurs to venture into e-commerce by countering some of the risks associated with this line of business. There's great excitement around this new partnership as it allows merchants at all levels to be safeguarded by ReD’s world class fraud solutions, acting as an enabler to those looking to launch or expand their online business.”
Setcom has been one of South Africa’s most trusted Payment Gateways since 1998. Their services include secure online and mobile credit card payment processing, SID instant EFT and fraud prevention services to entrepreneurs looking for a reliable, affordable payment solutions partner.
Part of the Setcom methodology is to offer traditional and non-traditional payment types across multiple channels, partnered with an effective reporting and reconciliation platform that enables efficient processing of payments.
The offering is further enhanced by a fraud and risk management system that operates across multiple channels to ensure optimal business performance.
As payments evolved through traditional retail environments and the Internet, Setcom has been at the forefront of developing products that not only differentiate, but allows business to partner with technology to expedite growth and revenues. For more information, visit www.setcom.com
ReD is a world leader in fraud prevention services. Our solutions are present at every stage of the payments value chain, supporting merchants, PSPs, issuers and acquirers, processors and switch networks in the fight against fraud.
ReD is different. They are flexible and independent of any card scheme. They protect billions of transactions across multiple channels and payment types.
Our proprietary technology is underpinned by world class fraud and risk analysts and pooled data from more than 190 countries. Each customer receives a tailored, responsive and highly effective solution with day-to-day support from a dedicated, expert analyst.
ReD serves customers from multiple sectors and across six continents from offices in Australia, China, Dubai, South Africa, the United Kingdom and the United States, and through partners around the globe. For more information, visit www.redworldwide.com