Co-op Utilizes ACI Worldwide to Prevent eCommerce Payments Fraud
January 13 2020 - 2:00AM
Business Wire
British convenience food retailer now uses full
range of ACI’s UP Merchant Payments solutions to offer customers a
true omnichannel experience
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions, today announced
that British food retailer The Co-operative (Co-op) has selected
ACI’s award-winning fraud management solution ReD Shield to prevent
eCommerce payments fraud.
Co-op is one of the UK’s largest convenience food retailers with
more than 2,600 stores and fuel sites across the country; the
retailer recently announced major online expansion plans to address
this rapidly growing channel. ACI ReD Shield, an integral part of
ACI’s UP eCommerce Payments solution, is a highly flexible,
real-time fraud management solution customized to the requirements
of eCommerce merchants and payment service providers (PSPs). It
combines multiple layers of control to deliver a fraud prevention
strategy tailored to customer needs.
As a strategic technology partner, ACI has supported Co-op with
the launch of several innovative payments initiatives in recent
years. Co-op was the first UK retailer to introduce both
chip-and-pin and contactless cards in the UK. ACI’s mobile payments
technology is an essential component of Co-op’s Pay-in-Aisle App,
which was launched in 2018. The retailer uses ACI's UP Merchant
Payments Solution for its card processing operations and to secure
payments data through Point-2-Point Encryption (P2PE). ACI also
runs a cloud-based wallet service for Co-op’s loyalty membership
scheme.
“As online shopping continues to grow, the security of online
channels is not only top-of-mind for consumers, but paramount for
merchants,” said Andrew Quartermaine, vice president, ACI
Worldwide. “ACI’s ReD Shield helps merchants to pinpoint fraud by
combining machine learning, predictive and behavioral analytics,
positive profiling and customized rules. It is one of the most
sophisticated fraud prevention solutions on the market today,
enabling merchants to continuously monitor and refine their fraud
prevention approach to stop fraud faster.”
“The Co-op is focused on delivering ease, speed and convenience
for today’s time-pressed shoppers – it is all about providing what
our members and customers want and need, and emerging technologies
play a key part in creating differentiation and choice in a
challenging and competitive sector,” said Dave Robertson, Retail IT
Director, Co-op. “Safety and security is our number one priority
and underpins our use of the latest technologies. That is why we
are pleased to continue our relationship with ACI Worldwide and
implement its powerful fraud prevention capabilities.”
Meet ACI at NRF 2020 at booth # 5447, January 12-14. For more
information, visit ACI at NRF 2020.
About ACI Worldwide ACI Worldwide, the Universal Payments
(UP) company, powers electronic payments for more than 5,100
organizations around the world. More than 1,000 of the largest
financial institutions and intermediaries, as well as thousands of
global merchants, rely on ACI to execute $14 trillion each day in
payments and securities. In addition, myriad organizations utilize
our electronic bill presentment and payment services. Through our
comprehensive suite of software solutions delivered on customers’
premises or through ACI’s private cloud, we provide real-time,
immediate payments capabilities and enable the industry’s most
complete omni-channel payments experience. To learn more about ACI,
please visit www.aciworldwide.com. You can also find us on Twitter
@ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2020. ACI, ACI Worldwide, ACI
Payment Systems, the ACI logo, ACI Universal Payments, UP, the UP
logo, ReD, PAY.ON and all ACI product names are trademarks or
registered trademarks of ACI Worldwide, Inc., or one of its
subsidiaries, in the United States, other countries or both. Other
parties’ trademarks referenced are the property of their respective
owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20200112005018/en/
Dan Ring Email: dan.ring@aciworldwide.com Phone: +1 (781)
370-3600
Katrin Boettger Email: katrin.boettger@aciworldwide.com Phone:
+44 (0) 7776 147 910
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