ReD chief executive Carl Clump said: âTollways have been identified as a problem area because neither a signature nor a PIN is requested from drivers. All a fraudster has to do is swipe a stolen card at a toll-booth.â
Fraudsters using forged and stolen credit cards from the UK to pay at French toll booths, have become an increasingly large problem for UK banks. With summer here, the number of visitors crossing the channel is increasing and with it, the number of fraudsters. Working in cooperation with APACS and the French acquirer of payment card transactions CrÃ©dit Mutuel, ReD is using its comprehensive fraud detection services to provide card issuers with the best tool to eliminate fraud, prevent losses and charge-backs.
ReD has already succeeded in cutting card fraud on French tollways by two thirds since January and expects to have a similar impact throughout summer. The service went live on 14 January this year and in the first 5 months of operation, fraud was slashed by 68 per cent. The new service successfully identified and blocked 2,490 unique card numbers as âhotâ ie lost or stolen and being used by someone other than the cardholder. Last year more than 600,000 UK cars and trucks travelled on the French motorways, generating some 1.8m card transactions.
ReD chief executive Carl Clump said: âWe are delighted we were able to produce such fantastic results for the Fench tollways, as we do for our many clients in the retail, telecom and ecommerce sectors. This bears testimony to our ability to reduce fraud in different environmentsâ
ReD approached APACS and CrÃ©dit Mutuel â the exclusive acquirer of the seven companies that own and operate the 4,500 French tollway booths â because of the increase in fraud losses through this environment. Lost and stolen cards identified by ReD are submitted to CrÃ©dit Mutuel for inclusion on the stop lists held at each tollway station in France.