ACI Worldwide and Three UK Partner to Combat eCommerce Payments Fraud
July 22 2020 - 2:00AM
Business Wire
Three UK, one of the UK’s largest telco
companies, to utilize ACI’s award-winning fraud prevention solution
ReD Shield, delivering real-time fraud management to fight growing
threat of online fraud
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions, today announced it is extending its partnership
with Three UK to combat eCommerce fraud, which has increased during
the Covid-19 pandemic. The telco leader will enhance its online
fraud management and prevention efforts by leveraging ACI’s
award-winning fraud management offering ReD Shield, part of ACI’s
UP Payments Risk Management solution.
Since the beginning of the Covid-19 crisis, global eCommerce
transactions across many sectors have risen dramatically. The UK
telco sector for example saw a 36 percent rise in May in online
transactions compared to the previous year. However, the growth in
eCommerce volumes has also resulted in an increase in fraud, as
fraudsters are using the surge in online activity to target
unsuspecting consumers and merchants.
ACI’s ReD Shield offers Three UK a multi-layered fraud strategy
that uses a combination of consortium intelligence, profiling,
machine learning and rules—a powerful approach that enables
merchants to separate legitimate customers from fraudsters.
“The current crisis is likely to lead to a long-term behavioral
change with millions of consumers opting for the convenience of
shopping online instead of at brick-and-mortar shops,” said Andrew
Quartermaine, vice president, ACI Worldwide. “However, this change
also presents new opportunities for fraudsters, and merchants could
be hit by a tidal wave of new fraud cases if they do not act. To
protect transactions in the eCommerce space, a sophisticated fraud
monitoring and prevention solution is crucial.”
“Our work with ACI Worldwide has enabled us to navigate the
evolving and increasingly complex fraud market so we can better
protect our business,” Martyn Cokayne, head of fraud risk, Three
UK. “We’re pleased to extend our relationship with ACI,
collaboratively working to maintain the highest standards in
security and fraud protection across our online platforms.”
About ACI Worldwide
ACI Worldwide powers electronic payments for more than 6,000
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.
About Three UK
Three launched in 2003 as the UK’s first 3G only network, laying
its foundations as the network that was born to be different. Today
Three is a connectivity company that connects people to people,
people to things and things to things and has more than 10 million
customers. An average Three customer uses 3.5 times more mobile
data than the industry average and its network today covers 99% of
the UK population. Three UK is part of the CK Hutchison Holdings
Ltd group of companies, which has mobile operations in 11
countries. We employ more than 4,800 people across our offices in
Maidenhead, Glasgow and Reading and our 311 retail stores.
© Copyright ACI Worldwide, Inc. 2020 ACI, ACI Worldwide, ACI
Payments, Inc., ACI Pay, Speedpay and all ACI product/solution
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/20200721005716/en/
Media Dan Ring dan.ring@aciworldwide.com 781-370-3600
Katrin Boettger katrin.boettger@aciworldwide.com 0044 (0)7776 147
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