ReD, a fraud prevention and payment services provider, has announced a new five year partnership agreement with South African payments experts, Transact Connect. The two companies will work together to introduce ReD’s full range of solutions to merchants and financial institutions across Africa.
Transact Connect provides electronic payment expertise to Payment Services Providers, financial institutions, merchants and government agencies including central banks. As part of their consultancy services to clients, Transact Connect will now be offering ReD’s core payment processing and fraud prevention solutions including the ReD1 Gateway® for international payments processing, the ReD PRISM® fraud management solution for issuers and the ReD Shield® real-time online fraud prevention service for merchants.
The partnership covers all countries in Sub Saharan Africa and ReD will provide integration and technical support from both their local base in South Africa and their international team of risk experts.
Estevao Tokata, Managing Director at Transact Connect, commented: “Transact Connect is committed to providing Africa with best-in-class payments products. As ecommerce continues to grow on the continent, it can create access to new markets for consumers and encourage entrepreneurship. The ability to provide safe and secure transactions will fuel this growth and, for this reason, Transact Connect has chosen to join forces with an expert partner like ReD.”
Lee-Anne Porter, Vice President Africa for ReD, added “The huge growth in ecommerce on the African continent naturally heightens exposure to fraud, which is now becoming a big issue for merchants in particular. 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. We are delighted to be partnering with Transact Connect to help customers in Africa navigate this period of change and capitalise on the opportunities available to them.”
