ReD Partnership to Fight Fraud in Africa (Nov. 21, 2013)
ReD, a London-based provider of fraud prevention and payment services, has signed a five-year partnership agreement with Transact Connect to introduce ReD’s products and services to merchants and financial institutions throughout Sub-Saharan Africa, a region where payments industry experts believe much opportunity exists.
Johannesburg-based electronic payments company Transact Connect now will offer ReD’s core payment processing and fraud prevention solutions as part of Transact Connect’s consultancy services to clients, and ReD will provide integration and technical support, according to an announcement.
“The huge growth in e-commerce on the African continent naturally heightens exposure to fraud, which is now becoming a big issue for merchants, in particular,” said Lee-Anne Porter, ReD vice president, Africa. “Our growing presence on the continent and our global experience position us well to provide effective, tailored solutions to a range of payment and fraud prevention needs for this high growth market.