LUXEMBOURG - LONDON | Yapital, the cross-channel payment solution, teams with ReD and integrates ReD Shield fraud prevention service to verify and protect all Yapital transactions, across channels, in real-time, and with instant detection of fraudulent activities.
The first European cross-channel-payment solution
Yapital was launched in the summer of 2013 by Otto Group, one of the world’s largest online retailers. Yapital provides payments across all channels – online, mobile, in-store and by invoice. Over recent months, several important partners have integrated the pioneering payment system, including Germany’s leading supermarket chain REWE. Where payment by QR code scan is not yet possible, Yapital consumers can use their Yapital MasterCard, enabling them to pay at more than 35 million acceptance points worldwide.
Effective protection of customer transactions
By signing a five-year contract with ReD, Yapital has secured a strong and competent partner to further support the effective protection of customer transactions. The real-time ReD Shield fraud prevention service supports some of the world’s leading merchants, gathering vital fraud intelligence from around the world to inform tailored fraud strategies for retailers, travel, telecommunications, finance, gaming and entertainment companies.
'Payment method that suits modern lifestyle'
“The Otto Group is investing in innovative financial services”, explains Nils Winkler, Chairman of the Board at Yapital. “With Yapital we have created a payment method that suits the lifestyle of modern consumers. ReD’s industry-leading fraud prevention solution and profound risk expertise allow us to provide our users with an easy and secure payment experience across all channels - and this well-founded trust of our customers will help us to reach our growth and expansion goals.”
'Adapt to the changing behaviour of fraudsters'
Manish Patel, regional president for EMEA and Latin America at ReD, adds: “Yapital's cross-channel payment solution is a significant innovation and the perfect platform to demonstrate our real-time screening capabilities. Yapital will be able to draw on the expertise and global experience of ReD’s risk analysts, working closely with them to monitor and refine rules, continually improve fraud prevention performance and adapt to the changing behaviour of fraudsters.”
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. We are flexible and independent of any card scheme. We 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.
About Yapital Financial AG
Yapital is the first European, cashless cross-channel payment solution operating across all channels: in-store, mobile, online and by invoice. Operation is easy, fast and secure: following online registration, the user can immediately make payments, send and receive money with Yapital, across all channels. Yapital was established in 2011 as a wholly owned subsidiary of the Otto Group. Yapital Financial AG is licensed in Luxembourg as an Electronic Money Institution. For more information on Yapital, visit www.yapital.com.
Sourced from ReD, March 6th, 2014