Virgin Mobile extends ReD contract

The extension will see ReD screen for card fraud and process more than 15 million payments per year across all Virgin Mobile channels.

ReD’s figures show there was a 50 per cent rise in attempted card fraud in prepay top-up in 2006 compared with 2005. ReD’s figures indicate that 58 per cent of fraudsters were less likely to re-offend with the same merchant after an unsuccessful attempt.

Virgin Mobile head of financial services Anita Dougall-Bains said: “Over the past five years, Virgin Mobile has experienced significant growth in customer numbers. ReD’s technology has helped us maintain a fast and reliable payments service throughout.”