E-Signature Fights Friendly Fraud for Magento Merchants
April 19, 2012
SignatureLink, Inc., which enables the capture of real-time electronic signatures over the Internet for applications like online point of sale transactions, mobile devices, and remote authorizations, has partnered with e-commerce solutions provider Magento. Under the agreement SignatureLink will integrate its CNPS online signature pad within Magento’s e-commerce platform. The Ridgeland, Miss.-based company says its CNPS online signature pad is the only e-commerce solution that addresses “friendly fraud.”
“ We are very pleased to offer Magento merchants the same ability to prevent and deter friendly fraud as brick and mortar retailers have,” says Greg Wooten, CEO of SignatureLink. “In the history of mankind, the most dominant building block of commerce has always been the human handwritten signature.”
The company says up to 30 percent of online fraud is friendly fraud and written off as the cost of doing business, but the Magento extension, along with the processor’s other anti-fraud efforts will give more than 110,000 Magento merchants the ability to address 100 percent of online payment fraud.