Citrus Pay deploys ReD Shield against online fraud

Citrus Payment Solutions has collaborated with ReD to implement a real-time fraud prevention solution, known as ReD Shield, for its merchants.

Jitendra Gupta, CEO & Founder, Citrus Pay, commented, “According to the 2013 Norton Report, the global price tag of consumer cybercrime stands at 113 billion dollars and India’s share in the financial loss pie is 4 billion dollars. With such a huge loss due to online fraud, it is imperative to utilize the best available fraud prevention technology to control sophisticated online fraud attempts. Detection, prevention and management of online payment fraud are the need of the hour and ReD Shield will do all three for us and our merchants. We are extremely excited to be integrating our payment and checkout services with ReD, the world’s leading ecommerce fraud prevention service provider.”

It is his belief that the new measure will increase consumer confidence when they use Citrus Pay for online transactions as they will not have to worry about the security aspect.
Specifically launched to protect merchants against online frauds, ReD Shield will protect both domestic and global merchants. The integration of ReD Shield into Citrus Pay’s checkout environment will enable merchants of all sizes to benefit from real-time fraud protection on both domestic and international transactions. ReD Shield is a market-leading fraud prevention solution that includes proprietary screening databases, a dynamic rules engine, pattern recognition software, PRISM neural network technology, BIN identification, “gibberish” filters, an analytical engine and IP geo-location technology. ReD Shield uses an unlimited number of transaction variables and a global database of “hot” cards to detect and prevent online fraud for many of the biggest companies in the world – across the retail, banking, travel, gaming, telecom and broader ecommerce sectors. For every transaction, ReD Shield acts in a split-second to assemble and analyze information and determine whether a payment is genuine or not.

The association will enable a merchant working with Citrus Pay in preventing fraud and detecting false positives. The solution also reduces the time and costs associated with manual reviews and will aid Citrus Pay in detecting international card-related frauds largely prevalent in the travel and e-tailing segments.