Retail Decisions (ReD), the world leader in payment fraud prevention, is pleased to announce a partnership with Nexway, the European leader for the digital download distribution of software and games.
Nexway offers its clients a hosted platform to facilitate online sales and digital content distribution, with services including secure payments. Nexway has partnerships with many leading companies such as Dell, Orange, Lavasoft, Nero, EA and Atari in over 50 countries.
In order to handle an anticipated increase in transaction volumes, associated with its rapidly expanding business, Nexway needed to upgrade its payment fraud prevention. Nexway will be integrating ReD’s proprietary ReD Shield(R) fraud prevention service, to protect all of Nexway’s clients.
ReD Shield takes a multi-dimensional approach to fraud prevention for payments conducted online, over the phone or by mail-order. Large numbers of data variables are analysed and this information is pieced together to help Nexway determine whether a transaction is genuine or not. This is all conducted instantaneously enabling Nexway to provide a seamless customer experience. The fully outsourced service is proven and typically reduces merchant fraud to well below 1% whilst increasing revenues.
ReD Shield combines neural technology with customised, merchant-specific velocity and compound rules. The service is managed by a team of highly skilled risk analysts who are continually monitoring changing fraud patterns. ReD provides a real-time risk assessment recommendation which allows Nexway to find the precise balance between preventing fraudulent transactions and maximising good transactions.
Since ReD has clients across many sectors and countries, fraud data identified in one sector or location is pooled to enhance the decision making process and prevent fraud across its entire client base. ReD has more than 20 years’ experience in the fraud prevention market. Its expertise is based on the 16 billion transactions it screens for fraud across 172 countries each year.
Carl Clump, ReD CEO comments “We are very pleased to be partnering with Nexway to provide fraud prevention. Our cross-sector expertise, international presence and instantaneous decisioning means we are best placed to protect Nexway and its growing and diverse client base.”
Franck Giroudon, COO of Nexway, comments, “Each time we cooperate with a new client, the number of transactions that we handle increases tenfold. We needed a highly scalable and secure solution for our partners in addition to a faultless and fast customer experience. We selected ReD because of its fully managed, best of breed service and its experience in instantaneous decision-making, which is particularly important in the digital download industry. ReD also has the capability to handle huge transaction volumes with unsurpassed processing speeds on a global basis.”
With additional partnerships in the pipeline, Nexway will be experiencing rapid business growth in coming months, internationally. The company clearly singled out ReD Shield for its tailored and scalable approach to fraud prevention. Also, the non-intrusive way in which ReD Shield works, means that fraud is minimised without a negative impact on the customer experience.