ReD, Inseva and 3PAY to support e-commerce market in Turkey

Tuesday 7 January 2014 11:34 CET | News

ReD, a global provider of fraud prevention and payment services, has partnered Turkish payments provider 3pay, to deliver a fraud prevention and payments solution to Turkey.

The initiative is supported by Inseva Technologies, ReD’s regional partner, and marks ReD’s first venture in the Turkish market.

Under the agreement, ReD Shield fraud prevention solution will be offered to 3pay merchants as an integrated component of 3pay’s core payments service.

According to a survey, the Turkish e-commerce market is predicted to grow over 100% from 2012 to reach an estimated USD 6.6 billion by 2017. With e-commerce transactions rapidly increasing in both volume and value, the need to process card-not-present (CNP) payments in a fast, secure and efficient way is now of paramount importance to merchants in Turkey, as is the ability to recognise and retain loyal customers.

ReD Shield is a fraud prevention solution that includes proprietary screening databases, a dynamic rules engine, pattern recognition software, patented PRISM neural network technology, BIN identification, “gibberish” filters, an analytical engine and IP geo-location technology. ReD Shield uses an unlimited number of transaction variables and a global database of ‘hot’ cards to detect and prevent online fraud across the retail, banking, travel, gaming, telecom and broader e-commerce sectors.

In recent news, ReD and Atos subsidiary for e-payment services of Worldline have joined forces to upgrade Worldline’s payments and fraud prevention solution.

For more information about ReD, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.

Check out our Cross-border Ecommerce Research section here for more info on country-specific ecommerce facts & figures, preferred payment methods, risk and fraud, as well as ecommerce legislation & regulation for mature and emerging markets.

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Keywords: ReD, Inseva, 3PAY, Turkey, e-commerce, fraud prevention, online fraud, payments
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

Industry Events