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First Data Partners with Accertify on eCommerce Fraud Solution

By Mercator Advisory Group
April 5, 2011
in Analysts Coverage
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Gráficos de análisis financiero en 3d

First Data today announced the launch of its new tool for merchants to manage fraud and risk associated with Internet orders. The creation of Fraud FlexDetect was a joint effort by First Data and fraud solutions vendor (and American Express subsidiary) Accertify. Merchants implementing Fraud FlexDetect can keep integration cost and effort to a minimum, according to the announcement, since the tool is already integrated with First Data’s existing processing platforms.

With online commerce continuing to grow and cybercrime becoming increasingly prevalent, merchants can protect their business from unauthorized card use with Fraud FlexDetect. It offers card not present businesses of all sizes a robust fraud detection and management tool that operates directly within each transaction’s authorization flow.

“We must be relentless in our efforts to stay one step ahead of fraudsters; with Fraud FlexDetect merchants can better respond to changing fraud trends,” said Bruce Dragt, SVP and division manager, Payment Acceptance, First Data. “We are seeing a great initial response to this solution amongst our merchants. With Fraud FlexDetect, merchants can develop a customized strategy that strikes the right balance between control and delegation of fraud prevention activities, and because it is integrated into our existing payment platforms, there is virtually no IT effort or maintenance.”

Fraud FlexDetect includes a real-time scoring engine that evaluates the risk level of transaction data based on the merchant’s customized parameters, and also includes a consolidated review interface for further identification and analysis of transaction risk. More than 100 merchants signed up for the service during the pre-release period.

Some of Fraud FlexDetect’s tools include device fingerprinting, IP geolocation and velocity checks. The solution provides merchants with a user-friendly interface that contains streamlined reporting and link analysis; multiple levels of role access and visibility to compare fraud scores against chargeback and dispute data. With Fraud FlexDetect, merchants can conduct an accurate assessment of each transaction and can validate suspicious transactions without turning away potential sales.

Click here to read the story.

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