ReD, Verifi Sign Strategic Fraud Partnership
March 13, 2014
Risk-management solutions provider Verifi and antifraud technology vendor ReD yesterday said they have formed a strategic partnership to grow their respective portfolio of customers and jointly develop new products. Under the agreement, Los Angeles-based Verifi will contribute chargeback and transaction data from its Cardholder Dispute Resolution Network (CDRN) to ReD’s own fraud information-sharing network, the ReD Fraud Xchange.
Additionally, the companies said ReD will offer CDRN to its customers as part of its array of fraud-prevention services and Verifi will offer ReD Shield’s comprehensive fraud protection to its clients.
“This partnership represents a giant step forward in the fight against payment fraud,” said Matthew Katz, CEO and founder of Verifi. “The alliance expands the capability of our payment and risk management solutions and, together, we’re better positioned to safeguard merchants through all phases of the payment lifecycle.”