Sagi e-processing firm signs up major operators

Israeli online gambling entrepreneur and principal Playtech shareholder, Teddy Sagi, has scored another online gambling coup with the announcement that his AIM-listed e-processing company, SafeCharge, has been selected for online transactions by top Rank Group plc subsidiaries Mecca Bingo and Grosvenor Casinos.

The companies will deploy SafeCharge’s Secure Payments Platform, Risk Management and PCI Descoping solutions for all UK customer facing digital business, an announcement Monday revealed.

A Rank spokesman said that SafeCharge had been selected due to its “…advanced technologies and industry expertise” and ability to improve the customer experience.

“By outsourcing the storing and transmitting of sensitive debit and credit card information to SafeCharge, Rank will reduce costs, manpower, time, and make the auditing process simpler,” the spokesman added.

SafeCharge’s Risk Management Platform supports Rank’s regulation compliance as well as its internal risk operations. A tailored fraud screening profile has been created for Rank based on the company’s business model and risk strategy.

These fraud prevention rules are processed in real-time allowing Rank’s risk team to instantly handle transactions that are flagged for Manual Review or Rejected, thereby reducing the rate of chargebacks and eliminating potential fraud attacks.

David Avgi, CEO at SafeCharge said:

“SafeCharge is committed to delivering innovative technologies for online and mobile payments. We have put every measure in place to ensure that Rank is satisfied with our innovative products and services.”

In March this year the company”s IPO raised a gross GBP 75.8 million ($126 million) at a company value of GBP 242.6 million ($404 million), after money. SafeCharge had planned to raise $100 million, but exploited the stock market rally and the AIM’s comeback to raise 25 percent more, albeit at the same company value.

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