ReD, a provider of fraud prevention services, has partnered with Pay.On, a payments processor and platform operator, to offer card-not-present (CNP) payment fraud prevention services to the latter’s global network of merchants.
Pay.On’s customer base can now get access to the ReD Shield, a real-time fraud prevention service, via the firm’s white label Platform-as-a-Service (PaaS) PaySourcing and PayPipe gateway offerings. This will enable payment service providers (PSPs), acquirers and financial institutions to become fully equipped PSPs in 48 hours, claims the vendor, or to outsource their entire PSP business into the cloud – in a PCI-DSS-certified card environment.
As a managed service, ReD Shield provides merchants and PSPs with access to the latest fraud prevention tools and techniques, for an on-going cloud computing fee. ReD Shield service is delivered by a global team of expert risk analysts, claims the vendor, which monitor and prevent payment fraud every second of the day around the world.
Commenting on the link-up, Markus Rinderer, chief executive officer (CEO) of Pay.On, said: “Our decision to integrate ReD Shield into our white label PSP payment platform builds on the strong, long-term relationship we already have with them. ReD Shield strengthens the PaySourcing risk management portfolio product and empowers our clients to protect their payment transactions effectively from fraudsters. This, in turn, lays the groundwork for unhindered international growth and successful cross-border expansion.”
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