ReD PRISM is a transaction monitoring and risk management solution that uses neural and rules-based technologies to provide real-time fraud decisoning. The solution can handle all card types across card-not-present and card present transactions and supports both chip & signature and chip & PIN cards.
Marcelo Annarumma, Managing Director Latin America & Caribbean at FIS commented: “FIS has a strong base of clients across the Latin America region and we expect to see strong growth in card payments over the next few years. The changes associated with the implementation of EMV and an increasing focus on ecommerce will bring significant challenges for card issuers, acquirers and retailers. The combination of FIS and ReD delivers innovative technology and proven expertise that will enable banks and retailers to take advantage of this anticipated growth with confidence, safe in the knowledge that they are enhancing their ability to effectively protect against fraudulent transactions.”
Manish Patel, Regional President of ReD, commented: “ReD has been investing in business development activities to take our world-class fraud prevention solutions into Latin America, where we are seeing the strongest growth in card transaction volumes and ecommerce. As part of this strategy, we looked for a strong pan-regional partner who could help us deliver our highly regarded ReD PRISM fraud solution across these and other markets. We have an excellent existing relationship with FIS and their strength in the region made them the logical choice. We very much look forward to building on our relationship with FIS to extend our support for banks and merchants across Latin America.”
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.