Citrus Pay implements ReD Shield against online fraud

MUMBAI, INDIA: Shielding e-commerce transactions against online fraud, Citrus Payment Solutions Pvt. Ltd. (Citrus Pay), the payments innovator of India has collaborated with ReD, a world leader in fraud prevention to implement a real time fraud prevention solution, known as ReD Shield, for its merchants.

Jitendra Gupta, CEO and founder of Citrus Pay, commented: "According to the 2013 Norton Report, the global price tag of consumer cyber crime 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.

The new measure will also be beneficial to merchants working with Citrus as they can now focus on expanding their business rather than worrying about risk mitigation. The fraud management service will be provided to merchants on a pay-per-use basis via the SaaS model.

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.