41st Parameter Signs Fraud Prevention Reseller Agreement in Brazil
Aug. 19, 2010
41st Parameter Inc., an Arizona-based provider of Card Not Present fraud prevention solutions, announced it has signed Sao Paulo-based Horus Fraud Prevention to an exclusive reseller agreement for Brazil. Under the agreement Horus has the right to market and deploy 41st Parameter products throughout South America. Online commerce in Latin America is expected to reach US$34 Billion by the end of 2011, led by Brazil which experienced 170 percent growth in online spending between 2007 and 2009. “Horus Prevention’s extensive history of implementing effective fraud solutions is clearly attributable to the company’s bench strength in all aspects of fraud prevention,” said Pete Selda, CEO of 41st Parameter. “Their deep inside knowledge of payments fraud across the most frequently targeted industries and their alignment with 41st Parameter’s methodology makes them an ideal partner to represent us in the rapidly-expanding South American market.” Under terms of the agreement Horus will provide local language sales, support, and training services and also localize 41st Parameter’s FraudNet products for Portuguese and Spanish languages.