ReD, Peach Target Online Fraud in India and South Africa
July 8, 2013
London-based antifraud technology provider ReD last week said it has partnered with Peach Payments to protect e-commerce merchants in South Africa and India from online fraud. Peach, headquartered in Berlin, is focused on e-commerce and mobile businesses in Africa and the BRIC countries (Brazil, Russia, India and China). The companies said online spending in the two markets covered under the agreement is growing at an annual rate of 30 percent and fraud in the channel is a growing problem.
“Africa and India are among the fastest growing e-commerce hotspots in the world,” said Rahul Jain, COO and co-founder of Peach. “However, the nature of these markets means there is a lack of experience in detecting and managing online fraud. As a result, merchants in these countries are increasingly the target of fraudsters who are finding it harder to defraud merchants in the U.S. and Europe. ReD’s global footprint and understanding of our target geographies positions them well to provide expert advice and highly effective fraud prevention strategies in support of our existing and future customers.”