HAZLET, N.J.--Sept. 10, 2002--Retail Decisions, an international supplier of payment card, ebusiness and fraud prevention services, today announced that it has entered into an agreement with Buy.com, The Internet Superstore(TM), to provide payment processing solutions utilizing Retail Decisions` LiveProcessor(TM) electronic payment software solution.
ReD will help facilitate over 10,000 Buy.com transactions per day.
Buy.com, founded in June 1997, offers its approximately 5 million customers over 1.5 million products in a range of categories including computer hardware and software, electronics, cellular products and services, music, DVDs, books and more. Individuals and businesses can shop quickly and easily at Buy.com 24 hours a day, 7 days a week.
"We continually review the payment processing technology within the industry, and we feel that Retail Decisions` LiveProcessor provides us with a highly reliable, real-time solution that is critical to our business," said Ian Hurlock-Jones, CIO for Buy.com. "Our selection of Retail Decisions is an example of how we are leveraging the latest technologies to further enhance customer confidence and make the retailing experience even easier."
"Retail Decisions offers the premier processing engine for live credit card and check transactions," said Carl Clump, CEO of Retail Decisions. "With over 80 installations of LiveProcessor in the U.S., our customers complete an estimated 10 million card-not-present transactions in 23 currencies on a monthly basis. We are excited to add Buy.com to the growing list of merchants who rely on Retail Decisions for mission-critical, secure payment processing."
Retail Decisions` LiveProcessor combines online, call center, retail and IVR transactions into a single system, and integrates real-time authorization, batch processing and settlement functionality with existing order processing, subscription and electronic commerce systems. LiveProcessor is the only payment processing application in the world to support Visa CVV2 and Amex CID security codes, procurement level 2 and 3 cards, electronic check processing, foreign currency settlement support and multiple bank interfaces in a single product. Clients of the company include Hotwire, Nextel Communications, RealNetworks, Research In Motion, ShopNBC, Tupperware and Unicity.
About Retail Decisions
Retail Decisions (ReD) is an international electronic payment transaction services business that provides fraud prevention, enterprise-class payment processing software and value-added transaction and consulting services to the finance, telecommunications, retail and e-commerce sectors. ReD is able to predict and prevent payment card fraud, process high volumes of credit card and electronic check transactions and has a platform for a full range of transaction based value-added services.
The company currently protects over 50,000 points of sale globally. In 2001, ReD processed more than 1 billion card transactions, stopping an estimated $396 million in fraudulent purchases. ReD has more than 15 years experience in credit card risk management and payment settlement services to the telecommunications industry in the US, and currently supplies its services to over 45 telecom companies.
A global company, ReD has operations in the United States, the UK, Europe, South Africa and Australia. Retail Decisions is publicly traded on the official list of the London Stock Exchange under the trading symbol, "RTD". More information about ReD is available at www.retaildecisions.com.
LiveProcessor is a trademark of Retail Decisions, Inc. Buy.com(TM) and The Internet Superstore(TM) are trademarks of Buy.com Inc. All other trademarks are registered trademarks of their respective companies.
Carol Romeo, 201/556-9404, Ext. 110