First Data, Accertify Partner on Anti-Fraud Solution for E-Commerce Merchants
April 7, 2011
Atlanta-based payments processor First Data Corporation recently launched an e-commerce anti-fraud solution developed with Accertify, an anti-fraud solutions provider acquired last year by American Express ( CNP Report Nov. 5, 2010 ). The companies said Fraud FlexDetect offers CNP businesses of all sizes “a robust fraud detection and management tool that operates directly within each transaction’s authorization flow.” First Data said it has integrated Fraud FlexDetect in several of its existing processing platforms, eliminating that need for many of its e-commerce merchant clients. “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, senior vice president and division manager of payment acceptance for First Data. “We are seeing a great initial response to this solution amongst our merchants.” The new service uses device fingerprinting, IP geolocation, velocity checks and includes a real-time scoring engine that evaluates the risk level of transaction data based on a merchant’s customized parameters. First Data said more than 100 merchants signed up for the service during the pre-release period.