ACI Worldwide extends partnership with Three UK to fight payments fraud

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ACI Worldwide announced the extension of its partnership with the telecom company, Three UK, in a bid to combat eCommerce fraud that has been on the rise since COVID-19. The partnership will allow Three UK to improve its online fraud management and prevention efforts through the supplier’s fraud management, offering ReD Shield.

“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.”

ReD Shield will provide Three UK with a multilayered fraud strategy comprising of consortium intelligence, profiling, machine learning, and rules. The companies aim to combat the rise in fraud brought about by a 36% rise in online transactions this year as compared to the previous year.

“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.”