Buy.com Chooses Retail Decisions for Global Payment Processing
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.
CONTACT:
Retail Decisions
Carol Romeo, 201/556-9404, Ext. 110
carol@cbkgroup.com
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