Retail Decisions, an international supplier of payment card, ebusiness and fraud prevention services, and Paymentech, the nation’s premier processor and acquirer of electronic payment transactions, announced a strategic sales and marketing agreement. Under the terms of the agreement, Paymentech will add Retail Decisions’ ebitGuard to its OnGuard suite of Fraud Management Solutions. ebitGuard(TM) is a global e-commerce fraud detection and prevention service designed to enable merchants to reduce the charge-back fees associated with fraudulent card-not-present (CNP) transactions.
Paymentech is the nation’s premier processor of credit card transactions. Last year, Paymentech processed more than 3.7 billion transactions valued in excess of $100 billion.
“Retail Decisions offers a premier fraud control solution,” said Dan Charron, Chief Development Officer of Paymentech. “We are pleased to partner with Retail Decisions and to offer our customers an additional avenue to manage fraud.”
“Our partnership with Paymentech enables Retail Decisions to extend the reach of our sales efforts in the USA by leveraging Paymentech’s substantial merchant relationships,” said Carl Clump, CEO of Retail Decisions. “ebitGuard is ReD’s leading card-not-present risk management solution that will allow Paymentech’s Internet and catalog merchants the finest level of protection by eliminating fraudulent orders, reducing manpower costs, streamlining business operations, and avoiding costly fees associated with chargebacks.”
ebitGuard incorporates neural technology, with a number of other sophisticated processes, proprietary databases, specialist risk analysts and CNP experience to provide clients with a fully integrated real-time risk assessment service that delivers high quality risk management results.
About Paymentech
Dallas-based Paymentech delivers secure and reliable payment service in merchant acquiring and point-of-sale transaction processing with a wide array of product functionality and support. Paymentech processed approximately 3.7 billion total transactions and $114 billion in bankcard sales volume in 2001. Founded in 1985, Paymentech is the nation’s premier processor and acquirer of credit card transactions.
About Retail Decisions
Retail Decisions (ReD) is an international electronic payment transaction services business that provides fraud prevention, enterprise-class payment processing software and value-added transaction and consulting services to the finance, telecommunications, retail and e-commerce sectors. ReD is able to predict and prevent payment card fraud, process high volumes of credit card and electronic check transactions and has a platform for a full range of transaction based value-added services.
The company currently protects over 50,000 points of sale globally. In 2001, ReD UK alone processed more than 1 billion card transactions, stopping an estimated $396 million in fraudulent purchases. ReD has more than 15 years experience in credit card risk management and payment settlement services to the telecommunications industry in the US, and currently supplies its services to over 45 telecom companies.
A global company, ReD has operations in the United States, Europe, South Africa and Australia. Retail Decisions is publicly traded on the official list of the London Stock Exchange under the trading symbol, “RTD”. More information about ReD is available at [www.retaildecisions.com][1].
[1]: http://www.retaildecisions.com
