Free CNP fraud prevention from Retail Logic

Initiative to speed growth of secure online shopping

Fleet, Hampshire, March 10th 2005.  In light of figures showing that UK Customer Not present (CNP) fraud is the single largest element of card fraud and continues to grow, card processing market leader Retail Logic is offering key CNP security functionality free of charge. In 2004, CNP fraud on UK issued cards was up 24% to an alarming £150 million, according to APACS.

"When APACS published its figures for CNP fraud, we realised that Retail Logic could take the initiative in boosting retailer and customer confidence in using cards online and for telephone transactions," says Retail Logic Managing Director Tim Stratton. "By offering CSC and AVS free to Solve/SE users, we believe we are taking an important step towards closing another door to fraudsters."

"Criminals are becoming increasingly sophisticated and multi-channel retailers must take advantage of the latest techniques to stay one jump ahead. It's vital that they take a holistic approach covering all aspects of card fraud prevention."

Solve/SE's Card Security Code (CSC) checking and Address Verification Service (AVS) modules provide vital additional protection for merchants using Retail Logic's card processing software for CNP transactions.

"We applaud Retail Logic's decision to make CNP fraud a little harder for the fraudsters and more affordable for merchants," adds Sandra Quinn, Director of Corporate Communications for APACS. "We hope other companies will follow their example in the fight against card fraud."

About Retail Logic:
The Retail Logic team has been providing payment processing software for over 16 years. Covering any form of payment card and transaction environment, Retail Logic’s software handles more than €145 billion a year. Investment in people and research & development, together with a clear focus on the needs of retailers, have led to award-winning products and UK market leadership.

Retail Logic's Managed Services provides an outsourced online authorisation and large volume EFT batch processing service. Over ten million transactions are processed each month for a wide range of customers such as DIY chains, furniture retailers, car rental, utility companies, Internet service providers and currency services.