HAZLET, NJ (April 30, 2003) – Retail Decisions, an international supplier of payment card fraud prevention and value added transaction services, today announced that PaySystems Corporation, a leading provider of end-to-end payment processing solutions for online and point of sale merchants, has selected Retail Decisions’ global e-commerce fraud detection and prevention service to help protect its online merchants. Under the terms of the agreement, transactions from PaySystems’ merchants are checked in real-time using Retail Decisions’ ebitGuard™ service. PaySystems is privately owned and offers its services to thousands of merchants in 79 countries.
The companies anticipate that up to one million transactions per month will be screened by the ebitGuard service.
“To help manage its enormous growth, PaySystems decided to enhance its fraud screening capabilities, said Kevin Lavigne, Director of Risk Management for PaySystems. The search led to Retail Decisions, which offered the best real-time decision platform in the industry. “With our substantial base of domestic and international merchants, PaySystems needed a risk management partner with experience and expertise in preventing fraud on a global level,” Lavigne added. “Retail Decisions’ ebitGuard service offers us a proven, effective fraud prevention service for online payments-wherever the transaction originates from.”
“Fraud is increasing on a global basis and one of the major drivers is the card-not-present environment,” said Carl Clump, CEO of Retail Decisions. “With operations in North America, Europe, South Africa and Australia, Retail Decisions learns from each of the geographies that we are in, and we are able to apply that knowledge to benefit our clients, wherever they do business. We are pleased to have been selected by PaySystems to provide our proven fraud prevention capabilities to PaySystems’ growing worldwide merchant base.”
ebitGuard is a fully managed (outsourced), multi-dimensional fraud prevention service that detects fraud and minimizes chargebacks with a combination of merchant-specific velocity and compound rules, screening databases containing millions of compromised and excessively charged-backed cards, neural technology and human insight. Managed and monitored 24 x 7 by a team of experienced risk analysts, ebitGuard provides a real-time risk assessment recommendation while helping retailers to find the precise balance between preventing bad transactions and maximizing good transactions.
About PaySystems Corporation
Headquartered in Montreal, Canada with offices in the United States, Germany and England, PaySystems offers complete end-to-end payment processing solutions for online and point of sale merchants around the world. Products and services include point of sale terminals and payment acceptance solutions for credit card, debit card, electronic check conversion and EBT.
PaySystems’ reputation as the leading merchant acquirer stems from its ability to offer an end-to-end solution and connectivity to any major financial network in the world. A complete solution has enabled PaySystems to offer unmatched pricing, quality and service e. PaySystems is approved by over 20 major banks worldwide and processes over $1 billion per year. The company is privately owned and offers its services to thousands of merchants in 79 countries. For more information, please visit www.PaySystems.com.
About Retail Decisions
Retail Decisions (ReD) is an international electronic payment transaction services business that provides fraud prevention, enterprise-class payment processing 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.
In 2002, ReD processed in excess of 1.5 billion transactions, an increase of 45 percent over 2001, and stopped an estimated 4.6 million fraudulent transactions. ReD has more than 15 years experience in credit card risk management and payment processing services in the US. ReD has operations in the United States, Europe, South Africa and Australia. Retail Decisions is publicly traded on the official list of the London Stock Exchange under the trading symbol, “RTD”.
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ebitGuard is a trademark of Retail Decisions, Inc. All other trademarks are registered trademarks of their respective companies.