Retail Decisions: China UnionPay Data Co., Ltd, Partners With Retail Decisions
Retail Decisions (ReD), a payment card issuer and world leader in card fraud prevention and payment processing, has partnered with Unisys China (Unisys), to implement its ReD Fraud Prevention solution PRISM, for China UnionPay Data Co, Ltd. (CUP Data). CUP Data is China's largest bankcard processor, providing transaction processing, disaster recovery and other services for issuing banks in China. CUP Data's customers include 16 of China's 29 card-issuing banks.
ReD has partnered with CUP Data to offer a comprehensive real-time fraud prevention and control solution. Unisys offers all the project management and systems integration services to fully integrate ReD PRISM into CUP Data's IT environment.
Liwei Wang, Executive Vice President of China UnionPay Data Co., Ltd. said:
"ReD has a proven track record of success in fraud prevention. That's why the choice to partner with ReD as a provider of fraud prevention technology was straightforward – we needed a strategic partner to provide us with an excellent and flexible solution that will grow alongside our business as our card network increases."
Perry Wu, GM, GFS, Unisys China said:
"ReD continues to provide us with excellent fraud prevention solutions that are tailor-made to our clients' needs. Once again, we are delighted that we are able to team up with ReD and incorporate its considerable expertise into our overall service offering."
Carl Clump, CEO of ReD, added:
"We are extremely pleased with CUP Data's decision to deploy our ReD PRISM fraud prevention solution. CUP Data is the largest processor of credit cards in China and CUP Data's customers will benefit immediately from increased profitability that comes from the reduction in fraud."
"This is ReD's first step into China. China is one of the fastest growing markets for payments, and we are eager to be a part of that growth."
CUP Data will be hosting ReD's Analysis and Review System, which permits CUP Data customers to construct, evaluate and deploy rules dynamically. The net benefit will be reduced fraud losses, enhanced customer service, and improved operational efficiency.
About ReD
Retail Decisions (ReD) is a payment card issuer and world leader in card fraud prevention and payment processing. A specialist supplier to the payments industry worldwide, ReD has over 19 years of experience in the fraud prevention market. Its blue-chip international clients come from the global telecommunications, retail, travel, petroleum, logistics, banking and the broader e-commerce sectors. They include Wal-Mart, Macy's, Bloomingdale's, Tesco, Texaco, Shell, Comet, Travelocity, T-Mobile and Virgin Mobile. Based in the UK, the company has offices in the United States, Australia and South Africa with representation in Japan and South America. More information about ReD is available at
www.redplc.com.
About Unisys
Unisys is a worldwide information technology services and solutions company. Its people combine expertise in consulting, systems integration, outsourcing, infrastructure and server technology with precision thinking and relentless execution to help clients, in more than 100 countries, quickly and efficiently achieve competitive advantage. In 1971, Unisys started its business in Korea, and since then, has become a leading company of IT business solutions by introducing and providing cutting-edge technology. Currently Unisys provides end-to-end IT services for more than 100 listed major Korean companies – especially financial services firms. For more information, please visit
www.unisys.co.cn or
www.unisys.com.
About China Union Pay Data
CUP Data is China's largest bankcard processor, providing transaction processing, disaster recovery and other services for issuing banks in China. Since CUP Data was established in 2003, the company has been providing processing services to 16 of China's 29 credit card-issuing banks, while 12 of the remaining banks continue these services in house.
SOURCE: Retail Decisions