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ReD and Setcom fighting fraud in South-Africa

LONDON & JOHANNESBURG | ReD and Setcom, a South African based payment gateway, renew their partnership and make ReD Shield® available to Setcom’s global merchant base.

 

ReD Shield and Tailored Consultancy 

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.

 

'South-African Ecommerce Growth means increase in Card-Not-Present Fraud'

Lee-Anne Porter, Vice President, Sales, Africa at ReD, commented: “The recent move to chip and PIN cards and the rapid growth of ecommerce in South Africa have 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. We are pleased to be working with Setcom to assist merchants at this crucial stage in the market’s development”.

 

'Drive ecommerce volume safely' 

Kumalan Naidoo, CEO at Setcom added: “We are looking to not only drive ecommerce volume in a safe and secure manner, but also to promote online retail and encourage young entrepreneurs to venture into ecommerce by countering some of the risks associated with this line of business. We are excited about 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.”

 

About ReD

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 protect billions of transactions across multiple channels and payment types. Their 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.

 

About Setcom

Setcom has been one of South Africa’s most trusted Payment Gateways since 1998. We offer 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 to help their businesses prosper. 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 differentiates, but allows business to partner with technology to expedite growth and revenues. For more information, visit www.setcom.com.

 

Sourced from ReD, January 23rd, 2014

 

 

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