GSI Commerce Chooses Retail Decisions for Real-Time Risk Management and Fraud Prevention.Business Editors/Technology Writers HAZLET, N.J.--(BUSINESS WIRE)--Dec. 3, 2002 Retail Decisions, an international supplier of payment card, e-business and fraud prevention services, today announced that GSI Commerce GSI Commerce is an ecommerce company specializing in running online shopping sites for brick and mortar companies that wish to have an online presence. It contracts with companies such as Zales,[2] iRobot,[3] Hershey's, Palm Inc. , Inc., a leading outsourced solution provider for e-commerce, has selected ebitGuard(TM), Retail Decisions' global e-commerce fraud detection and prevention service, to help protect its online stores. As an outsourced solution provider, GSI Commerce manages Web site development, merchandising, customer service, order processing and fulfillment on behalf of its partners. Its partners include more than 40 retailers, branded manufacturers, media companies, television networks and professional sports The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. organizations. "Credit card fraud Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. is a challenge for all online merchants," said Mark Reese, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for GSI Commerce. "With Retail Decisions' ebitGuard service, GSI GSI - Gensym Standard Interface is able to reduce fraudulent transactions on our sites and give our customers an even safer shopping environment." "Our expertise in card-not-present (CNP (Certified Network Professional) A professional designation and accreditation given to individual IT networking professionals by the Network Professional Association (www.npa.org). ) e-commerce fraud prevention services offers enhanced protection to GSI Commerce, providing them with real-time security against fraudulent credit card transactions," said Carl Clump, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Retail Decisions. "GSI Commerce recognizes the importance of protecting its merchants with a fraud prevention service that provides consumers with a safe, unobtrusive online shopping experience. We are pleased to have been selected by them for this project and expect GSI to become an increasingly important customer for us." Retail Decisions' ebitGuard is a fully managed (outsourced), real-time fraud prevention service that reduces the up-front investment for a fraud prevention solution and lowers operating costs. The service combines neural technology with customized, merchant-specific velocity and compound rules and human insight to provide a real-time risk assessment recommendation while helping retailers to find the precise balance between preventing bad transactions and maximizing good transactions. In addition, ebitGuard screens payment cards against a database of historic card usage, comprising over 75M card numbers worldwide to provide a best-of-breed risk management service. About Retail Decisions Retail Decisions (ReD) is an international electronic payment transaction services business that provides fraud prevention, enterprise-class payment processing software and value-added transaction and consulting services to the finance, telecommunications, retail and e-commerce sectors. ReD is able to predict and prevent payment card fraud, process high volumes of credit card and electronic check transactions and has a platform for a full range of transaction based value-added services. The company currently protects over 50,000 points of sale globally. In 2001, ReD processed more than 1 billion card transactions, stopping an estimated $396 million in fraudulent purchases. ReD has more than 15 years experience in credit card risk management and payment settlement services to the telecommunications industry in the US, and currently supplies its services to over 45 telecom companies. A global company, ReD has operations in the United States, Europe, South Africa and Australia. Retail Decisions is publicly traded on the official list of the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. under the trading symbol Trading symbol See: Ticker symbol , "RTD RTD returned to duty (US DoD) RTD Rated RTD Ready to Drink RTD Richmond Times-Dispatch RTD Regional Transportation District RTD Research, Technological Development RTD Research and Technology Development RTD Real-Time Data ". More information about ReD is available at www.retaildecisions.com. Note to Editors: ebitGuard is a trademark of Retail Decisions, Inc. All other trademarks are registered trademarks of their respective companies. |
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