- Tejuri’s partner retailers can now leverage the world’s largest fraud detection radar for online payments
- Tejuri to outsource its fraud management operations to CyberSource’s Managed Risk analysts, who will support Tejuri in implementing, maintaining and optimising their online fraud management operations
Dubai, UAE: April 7, 2013: Tejuri.com LLC, the Middle East’s first online shopping mall, in conjunction with Dubai’s Department of Economic Development, announced a partnership with CyberSource, a Visa company (NYSE:V) and one of the world’s leading providers of eCommerce payment management services, to provide secure online payment acceptance capability to Tejuri’s partner retailers in the UAE.
With the rise in Internet and smart phone penetration, consumers in the GCC are becoming increasingly media-savvy and showing an inclination towards online purchasing. More than USD 3.2 billion was spent on online shopping in the GCC in 2012 (1). To meet the growing spectrum of consumer preferences and increase in online shopping patterns, retailers in the region need to adjust and keep repositioning themselves to suit the evolving landscape. Tejuri.com, with support from CyberSource, aims to enable retailers in the UAE to meet this challenge by providing a convenient, safe and secure online payment acceptance environment to its partner retailers.
“It was crucial to partner with world leading providers to assure our partner retailers of the safety of accepting payments online. CyberSource with their global experience and local market knowledge got us trading online with the speed and efficiency we were looking for,” said Ayaz Maqbool, Managing Director Tejuri.com. “The technology they brought to the table in the form of Decision Manager – featuring the world’s largest fraud detection radar and the expertise of their managed risk analysts, sealed our confidence in their solution.”
CyberSource is one of the world’s leading providers of eCommerce payment and fraud management services, and will be providing the online shopping mall with real-time fraud detection solution to empower and safeguard the interest of Tejuri’s partner retailers and their customers. With Decision Manager Tejuri.com can create and modify rules on demand, test fraud rules in a ‘passive mode’ before they go ‘live’ and benefit from advanced detection technologies. CyberSource’s Managed Risk Services team, based out of Dubai, will also help the company to implement, maintain and optimise its fraud management operations.
Steve Warner, head of CEMEA sales at CyberSource said: “By working with CyberSource, Tejuri.com is cementing its secure payment promise to retailers. As the online shopping industry in the Middle East continues to grow, our solution will enable Tejuri.com to keep pace with increasing demand driving eCommerce growth, building consumer confidence in online shopping in this market. Our global fraud management portal not only offers a streamlined solution, but allows Tejuri.com to benefit from the knowledge generated by the data of more than 60 billion transactions we process annually, giving it visibility of best practices and intelligent methods of fraud prevention.”