British food retailer The Co-operative (Co-op) has taken measures to tackle e-commerce payments fraud through utilising ACI Worldwide’s fraud management solution.
The announcement comes as UK merchants are expected to carry out Strong Customer Authentication (SCA) by March 14 2021.
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Andrew Quartermaine, vice president, ACI Worldwide, said: “As online shopping continues to grow, the security of online channels is not only top-of-mind for consumers, but paramount for merchants.
“ACI’s ReD Shield helps merchants to pinpoint fraud by combining machine learning, predictive and behavioral analytics, positive profiling and customised rules. It is one of the most sophisticated fraud prevention solutions on the market today. The solution enables merchants to continuously monitor and refine their fraud prevention approach to stop fraud faster.”
On-going partnership
ACI has supported Co-op with the launch of several payments initiatives in recent years. For example, Co-op was the first UK retailer to introduce both chip-and-pin and contactless cards in the UK.
In addition, Co-op uses ACI’s mobile payments technology for its Pay-in-Aisle app, which launched in 2018.
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By GlobalDataDave Robertson, retail IT director, Co-op, said: “The Co-op is focused on delivering ease, speed and convenience for today’s time-pressed shoppers. It is all about providing what our members and customers want and need. Emerging technologies play a key part in creating differentiation and choice in a challenging and competitive sector.
“Safety and security is our number one priority and underpins our use of the latest technologies. That is why we are pleased to continue our relationship with ACI Worldwide and implement its powerful fraud prevention capabilities.”
Co-op also uses ACI’s UP Merchant Payments Solution for its card processing operations and to secure payments through P2PE. Furthermore, ACI runs a cloud-based wallet service for Co-op’s loyalty membership scheme.
The retailer has 2,600 stores and fuel sites across the UK and recently announced online expansion plans.
