Protection from card fraud for e-commerce businesses has created the need for a new risk management solution.
Teaming in its development are Retail Decisions, an online transaction services business and iSolve Incorporated, an online marketplace for excess inventory specializing in corporate barter settlement solutions. Retail Decisions announced that it will provide iSolve with real-time risk management services for its Web-based transactions to ensure the authenticity of each credit card transaction on iSolve’s site.
iSolve is the first full-service B2B marketplace for buyers and sellers of surplus and oversupply worldwide, and its Web site, iSolve.com, offers alternative settlement solutions such as corporate barter and Web currencies to partner Web sites. Since iSolve assumes principal risk when it accepts payment by credit card from buyers, it’s important that the company confirm that the charges are valid. Retail Decisions has more than 14 years of card fraud prevention experience and has created one of the world’s largest proprietary fraud screening databases.
“We view this partnership with Retail Decisions as an essential step in our efforts to provide buyers and sellers of surplus inventory and oversupply with the full-breadth of B2B e-commerce solutions, including unique corporate barter and Web-based currencies,” said John Owen, Chief Financial Officer for iSolve. “Security is a fundamental concern in our marketplace and this new fraud protection capability will effectively allay such concerns.”
Retail Decisions’ clients such as AT&T have utilized the company’s risk management solutions to ensure the credibility of credit card-billed telephone calls. Such experience and successes have made Retail Decisions the market leader, providing services to over 80 percent of Operator Service Providers in the telecommunications industry.
“Our experience and expertise in Card-Not-Present e-commerce fraud prevention services match perfectly to provide iSolve with protection against the risk of fraudulent credit card transactions,” said Carl Clump, CEO of Retail Decisions. “Our aim is to keep fraud levels to well below the accepted levels of card associations. We are confident that we will achieve this.”
Headquartered in Stamford, Conn., iSolve facilitates successful e-commerce transactions for surplus inventory, idle capacity and excess assets throughout the world by offering financial and trade solutions including corporate barter and Web currencies to Web partners. iSolve helps customers buy, sell and barter surplus inventory and idle assets while providing them the opportunity to leverage the company’s extensive vertical and merchant expertise in creating value from unproductive goods, and through its strategic partners, offers comprehensive services for end-to-end merchandising, settlement, logistics and distribution management. For more information about iSolve, call 877/476-5837, or visit its web site at www.iSolve.com.
About Retail Decisions
Retail Decisions has more than fourteen years experience in Card-Not-Present risk management and payment settlement services to the telecommunications industry in the United States, and currently supplies its services to over 45 of the largest telecommunications companies. In 1999, Retail Decisions provided fraud screening and risk management services for more than 55 million telephone transactions in the US and UK.
Retail Decisions also collates and distributes the UK’s most comprehensive ‘Hot Card File’ of lost and stolen cards, which is continually updated and is available to retailers 24 hours a day, every day of the year. The company currently protects nearly 10,000 retail sites in the UK, principally in high-payment volume sectors. Last year, approximately 210,000 fraudulent transactions in the UK were detected by Retail Decisions — equivalent to an estimated industry saving of over $80 million. In 1999, Retail Decisions helped check over one billion transactions in the UK alone.
Retail Decisions is publicly traded on the full London Stock Exchange (FTSE) under the trading symbol, “RTD”. More information about Retail Decisions is available by visiting the company Web site at http://www.redplc.com.
Retail Decisions is a registered trademark of Retail Decisions, Inc. Other company and product names are the trademarks of their respective companies.Details