Fraud prevention service ReD has signed a five year deal with Peach Payments to add further security in the emerging e-commerce markets in South Africa and India.
South Africa and India have been surging in the commercial market where online spending grew at about 30 per cent year on year.
ReD Shield and Cape Town-based Peach Payments, which both support services for online merchants, are partnering to help prevent fraud in the online payment industry.
Peach Payments, whose investors include 88mph, helps online merchants in the emerging Brazil, Russia, India, China, South Africa (BRICS) markets, says online fraud goes undetected in Africa and India because they are inexperienced in managing online fraud where merchants are most vulnerable to it.
Rahul Jain, chief operating officer (COO) and co-founder of Peach, said: “Our geographic focus makes it important for us to ensure that our merchants have access to the most advanced tools to help them combat and prevent fraud.
“We chose to work with ReD so that our merchants could have seamless access to both a superior transaction processing platform and a best-in-class fraud prevention solution.”
Manish Patel, regional president for Europe, Middle East and Africa and Latin America, said their solutions can help online merchants to execute their growth strategies while countering payment fraud at the same time.
