American fraud prevention provider ReD has inked a new four-year agreement with South African payment gateway Setcom for integrated fraud and payments offering.
Under the agreement, ReD will offer its Shield fraud prevention solution to Setcom’s global merchant base.
According to ReD, Setcom and its merchants will be offered with consultancy and expert risk advice to deliver tailored solutions.
ReD sales vice president for Africa Lee-Anne Porter said that a card-not-present (CNP) fraud has been increased due to a recent move to chip and PIN cards and the growth of ecommerce in South Africa.
Porter added that the fraud prevention solutions from ReD will protect the merchants’ businesses from fraudulent attacks while maximizing revenue from genuine customers.
Setcom CEO Kumalan Naidoo said: "We are excited about this new partnership as it allows merchants at all levels to be safeguarded by ReD’s world class fraud solutions, acting as an enabler to those looking to launch or expand their online business."
