NEW YORK, October 21, 2010 /PRNewswire/ -- Leading international payment fraud prevention group Retail Decisions (ReD) has now extended its global presence to its sixth continent by entering Latin America.
The company has just announced a partnership agreement with Ormeno & Associates, an internet technology consultancy throughout Latin America and the Caribbean. The affiliation means that Ormeno & Associates will be ReD's local sales and account management division. Ormeno will now be implementing ReD's global expertise in detecting and foiling e-payment fraud.
Carl Clump, CEO for Retail Decisions, says: "The new partnership reflects not only the continuing growth of ReD as an expert heavyweight on the ever-changing world of card crime, but also the surge of the e-commerce market in Latin America up to around 40% during 2009, reaching a total value of $21.7 billion(1). As a result, the partnership between ReD and Ormeno & Associates is well-timed. Not only does it help reassure the region's online shoppers that e-buying is safe and secure, but it also brings dramatic financial benefits to online retailers."
This rise in web shopping in Latin America in 2009 was triggered by an increase in broadband penetration and access to computers, which grew at annual rates of 15% and 20% respectively, bringing the number of computer users to 150 million, and those with broadband to 40 million.
But this growth is mirrored by the increased activity of payment card fraudsters, who are quick to capitalise in emerging markets where many merchants are under-protected.
While serving the Latin American subcontinent, Ormeno will now benefit from ReD's two decades of experience as one of the world's leading players in transactional card fraud prevention, working with some of the largest global e-commerce merchants.
Its cutting-edge, fraud-beating system, ReD Shield, constantly monitors and analyses card activity across the globe, using its own unique Nobel prize-winning neural technology, ReD PRISM(R), which automatically detects fraud patterns and adjusts to them as criminals adapt their tactics.
ReD has a huge portfolio of blue-chip clients across the world, and screens 19 billion transactions a year for fraud across 172 countries. The financial losses that are avoided are massive. One travel industry partner reported an impressive 20 times return on its investment in the first six months.
Alejandro Ormeno said; "After screening leading providers in the industry we realized that ReD is by far the most robust solution out there. I can think of at least three differentiating points that made us decide to represent ReD over others: a real-time all the time solution, neural technology and dedicated risk specialists working shoulder to shoulder with their counterparts at customer sites. No other company can offer such a superior solution to its customers."
Alajandro said he was very optimistic about the potential of the partnership. "Technology has been at the forefront of Ormeno, and continues to be our forte. Internet security is a big concern for many of our clients and this partnership will help increase our value offering, while allowing ReD to benefit from our extensive network and our market experience and expertise."
References: 1. Datamonitor
Retail Decisions (ReD) is a world leader in card fraud prevention and payment processing. A specialist supplier to the payments industry worldwide, ReD has over 20 years experience in the fraud prevention market. Its blue-chip international clients come from the global telecommunications, retail, travel, petroleum, banking and the broader e-commerce sectors. They include Air China, Coles, Comet, John Lewis, Louis Vuitton, Shell, Shoprite, Target, Tesco, Texaco, T-Mobile and Virgin Mobile.
The company has offices in Australia, China, Germany, South Africa, United Kingdom, and United States, with representation in India, Korea, Japan, and South America.
More information about ReD please visit: http://www.redplc.com
SOURCE Retail Decisions