Christine McIndoe
Retail Decisions
(201) 556-9404, Ext. 137
Christine@cbkgroup.com
New Fraud Prevention, Security, Payment and Billing Features Added
HAZLET, NJ (February 26, 2003) — Retail Decisions, an international supplier of payment card fraud prevention and value added transaction services, today announced the release of LiveProcessor 4.0, the latest version of the Company’s electronic payment processing solution. LiveProcessor 4.0 combines a significant number of new payment and billing capabilities with the most comprehensive set of security and fraud prevention technologies to provide a reliable, convenient and secure gateway for e-commerce, catalog and call center / IVR payments.
“The online retail business is growing and evolving daily,” said Carl Clump CEO of Retail Decisions. “Driven by valuable input from our clients, this next generation software, LiveProcessor 4.0, demonstrates Retail Decisions’ continued commitment to develop feature-rich payment card and check processing solutions that are essential for today’s marketplace.”
With over 100 installations in the US, LiveProcessor customers complete an estimated 13 million card-not-present transactions in 23 currencies on a monthly basis. Designed to run within the retailer`s data center, LiveProcessor eliminates gateway transaction fees and provides a secure payment processing application that supports Visa CVV2, MasterCard CVC2 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. Buy.com, Hotwire, Netflix, Nextel, RealNetworks, Research In Motion, ShopNBC, Tupperware and Unicity Network are just a few prominent companies on the LiveProcessor client roster.
Retail Decisions’ LiveProcessor has received a number of endorsements from its merchant clients. “Unicity Network required a payment gateway solution that could handle our growing online business and that provided the underlying security essential for Web-based credit card and check payments,” said Alan Gloyne, Vice President of IT for Unicity Network. “Retail Decisions’ LiveProcessor provides us with the best of both worlds—a long-term, fast, and dependable payment processing solution for our expanding transaction volumes, and a solution that provides us with the ability to safeguard the confidentiality of our customers’ payment information.”
LiveProcessor 4.0 supports a range of value-added features lead by comprehensive fraud prevention and security technologies and new payment and billing capabilities. According to Aaron McPherson, Research Manager, Payments, in the Retail Financial Services practice at Financial Insights, fraud is a very serious issue for online merchants. “The problem is not so much fraud loss as it is the loss of legitimate transactions to fraud prevention efforts. Many merchants have been forced into refusing all international business, because they have no effective way to prevent fraud, resulting in a significant loss of revenue."
“The wealth of new security features supported by the LiveProcessor 4.0 software provide retailers with a strong defense against the threat of online fraud,” commented Carl Clump. “Most notably, LiveProcessor has been fully integrated with ebitGuard, Retail Decisions’ fully managed fraud prevention service. ebitGuard uses a combination of customized, merchant-specific rules, negative screening databases, neural technology and other proprietary software. This not only protects the merchant from potentially fraudulent transactions, but also assists in validating good customers to minimize merchant insult rates. ebitGuard is helping some of the largest merchants in the world to detect and prevent fraudulent payment card transactions,” said Carl Clump.
Other new features of LiveProcessor 4.0 include:
Bill Me Later™ Support
LiveProcessor was the first payment gateway to support Bill Me Later from I4 Commerce, a revolutionary new payment method that simplifies catalog and website purchases by eliminating the need for a credit card.
Access to payer authentication services
Visa’s Verified by Visa payer authentication service provides greater online security to credit and debit card payments by enabling participating card issuers to validate a cardholder`s identity during the online checkout process.
128-bit SSL technology for maximum payment security
Recognized as the most secure method for transmitting payment information, SSL encrypts all data during transmission to LiveProcessor, so customers can shop with confidence.
International AVS
LiveProcessor 4.0 has been certified to support Paymentech’s International Address Verification Service (IAVS). Using IAVS, transactions originating in the UK or Canada, for example, can be quickly evaluated to determine if the shipping address provided by the customer matches the credit card billing address on record at the card-issuing bank.
Configurable soft descriptors\
Designed for retailers that process transactions with different company or product names, LiveProcessor 4.0 lets you more precisely “label” transactions on the credit card statement. By eliminating customer confusion related to monthly statements, soft descriptors can help reduce chargebacks.
Unlimited merchant ID support
With LiveProcessor 4.0, merchants with multiple sales channels, each with its own separate merchant account, can process their transactions through a single consolidated engine. Reporting can be performed individually for each merchant ID.
Additional information and pricing for LiveProcessor 4.0 is available by calling Retail Decisions at (401) 228-2383 or by visiting www.retaildecisions.com.
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 in the US.
Retail Decisions has operations in the United States, Europe, South Africa and Australia and is publicly traded on the official list of the London Stock Exchange under the trading symbol, “RTD”.
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ebitGuard and LiveProcessor are trademarks of Retail Decisions, Inc. All other trademarks are registered trademarks of their respective companies.
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