ReD Shield will be rolled out to support Citrus’s ecommerce customers across India in the fight against online fraud. Merchants large and small will benefit from real-time fraud decisioning, to protect themselves from fraud on both domestic and international transactions. ReD Shield includes proprietary screening databases, a dynamic rules engine, pattern recognition software, patented PRISM® neural network technology, BIN identification, “gibberish” filters, an analytical engine and IP geo-location technology.
Jitendra Gupta, CEO and founder of Citrus, said: “In a fast moving market like India, it is vital to utilise the best available fraud prevention technology to control attempted frauds which are growing along with the market. ReD Shield will enable Citrus and its merchants to do exactly this. Citrus is extremely excited to be integrating its payment and checkout services to ReD Shield, the world’s leading ecommerce fraud prevention service.
“ReD Shield will provide Citrus merchants with the most sophisticated fraud checks available, enabling them to confidently accept more good business while quickly declining fraudulent transactions and keeping manual reviews to a minimum. It will also help us start processing international card transactions for merchants accepting international cards.”
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.