Partnering Peach payments
Fraud prevention provider ReD has announced a new 5 year global partnership agreement with Peach Payments, to provide the ReD Shield online fraud prevention service to ecommerce merchants in the high growth markets of Africa and India.
Peach provides payment solutions to online and mobile businesses and specialises in supporting payments in the African and BRIC markets. Although the new partnership is a global one, ReD and Peach will be working together initially to focus their offering on the fast growing ecommerce markets of South Africa and India. Here, the ReD Shield solution will support online merchants as they take advantage of the surge in online spending which has now reached around 30% year-on-year growth in both countries.
Merchants already using the Peach Payments platform can also now seamlessly access ReD Shield without the need for additional technical integration.
Rahul Jain, COO and co-founder of Peach, commented: “Africa and India are among the fastest growing ecommerce hotspots in the world. However, the nature of these markets means there is a lack of experience in detecting and managing online fraud. As a result, merchants in these countries are increasingly the target of fraudsters who are finding it harder to defraud merchants in the US and Europe. Our geographic focus makes it important for us to ensure that our merchants have access to the most advanced tools to help them combat and prevent fraud. We chose to work with ReD so that our merchants could have seamless access to both a superior transaction processing platform and a best-in-class fraud prevention solution. ReD’s global footprint and understanding of our target geographies positions them well to provide expert advice and highly effective fraud prevention strategies in support of our existing and future customers.”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
