LONDON | ReD, a leading global provider of fraud prevention services, is expanding its presence in Latin America through the delivery of its highly regarded ReD Shield® online fraud prevention service to Banwire, a prominent Mexican payment gateway.
Ecommerce specialist Banwire provides a powerful online payment gateway for credit cards, debit cards and cash deposits in Mexico. Under the five-year deal, ReD will provide its real-time online fraud prevention solution to support the transactions of Banwire’s customers across multiple sectors, helping to differentiate it from other Mexican gateway providers.
ReD Shield utilises multiple advanced technologies to ensure valuable online payment transactions are processed while fraudulent ones are identified and isolated. In Banwire’s case, the solution has been tailored to provide separate rule sets for individual market sectors. These rule sets are combined with other data attributes, enhanced through the use of neural models, to deliver a holistic business solution that minimises fraud and chargebacks. The solution includes a customised order review workflow and monthly risk reviews, enabling rules to be adjusted to address changing patterns of fraud.
Banwire’s Managing Partner Hugo Castrejon, commented, “We aim to provide our clients with the best tools to succeed in the e-commerce market. ReD’s customised rules, global fraud data and deep expertise help merchants to improve efficiency and keep manual reviews to a minimum. This makes them the ideal fraud prevention partner to help us establish productive business relationships with our customers and expand across the region.”
Victor Casanova, also a Managing Partner at the company, added, “Banwire, as a specialist secure online payment provider, needs a proven anti-fraud tool to support its dizzying business growth in Mexico and other LatAm regions.”
Nick Walker, ReD President for Latin America, said: “ReD is delighted to be cementing this deal with Banwire to provide its customers with an established fraud prevention solution that is already supporting some of the world’s leading ecommerce merchants. The agreement contributes to the continuing expansion of ReD’s presence across Latin America as the company works with local partners to help merchants manage fraud in a fast moving online world.”
ReD is a world leader in fraud prevention and payment services. Independent of any card scheme, ReD is present at every stage of the payments value chain, supporting merchants and PSPs, issuers and acquirers, processors and switch networks in the fight against fraud. As a participating organization of the Board of the PCI DSS Security Standards Council, ReD plays a central role in setting standards for the payments industry.
ReD employs some of the world’s leading risk and fraud analysts and gathers data from more than 190 countries. The company serves customers across six continents, from retail, banking, telecommunications, travel, gaming, petroleum and broader e-commerce sectors. ReD has offices in Australia, China, India, Singapore, South Africa, United Kingdom and the United States.
For more information about ReD, please visit: www.redworldwide.com.