UK bank losses on French roads
London, 22 February 2005: Retail Decisions (ReD), the fuel card operator and a world leader in card fraud prevention and payment processing, has signed a contract with APACS, the UK payments association, to minimise card fraud on French tollways.
UK bank losses continue to rise on Franceâs roads due to fraudsters on the move using lost and stolen UK credit and debit cards to pay at tollways. ReD, working in cooperation with APACS and the French acquirer of payment card transactions CrÃ©dit Mutuel, has developed a solution to combat this type of card fraud.
ReD uses its comprehensive fraud detection services to provide card issuers and retailers with the best tool to eliminate fraud, prevent losses and charge-backs.
ReD chief executive Carl Clump said: âFrench tollways have been identified as a problem area because neither a signature nor a PIN is requested from the drivers. All they have to do is swipe a card at a toll-booth. Working with UK card companies and French toll-booth operators we have developed a solution that will better protect UK cards from being used fraudulently on the tollways. Early estimates since the introduction of our solution have seen a 50 per cent reduction in card fraud on the tollways.â
The service went live on 14 January this year and APACS has confirmed that in the first week of operation the new system helped identify that approximately seven per cent of transactions were fraudulent. These cards are now blocked to prevent further attempts at misuse abroad. Last year more than 600,000 UK cars and trucks travelled on the French motorways, generating some 1.8m card transactions.
ReD instigated the project by bringing together UK issuing banks, APACS and CrÃ©dit Mutuel - the exclusive acquirer of the seven companies that own and operate the 4,500 French tollway booths. The service was developed by all three parties 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.