Chase Paymentech Launches Safetech Fraud Tools in Europe

Nov. 21 2011

CNP payments processor Chase Paymentech has launched new fraud-prevention technology for European online merchants. The company said its Safetech Fraud Tools are designed to help online retailers retain legitimate sales while preventing fraudulent transactions. “There is no magic solution to safeguard online merchants against the risk of fraud. Rather, merchants must develop an attitude towards risk and fraud based on their own business model and appetite towards risk,” said Shane Fitzpatrick, managing director at Chase Paymentech Europe. “Merchants should seek expert advice to decide what tools are required to best mitigate their risk exposure. Safetech Fraud Tools provides merchants with innovative technology to help merchants fight the battle against on-line fraud.” The company said Safetech Fraud Tools have been available in the United States since January 2011 and merchants that utilize the software have seen chargebacks reduced by 30 to 50 percent.