Heartland Chooses Alaric for Fraud Prevention
July 19, 2013
Heartland Payment Systems, a large payments processor based in Princeton, N.J., has chosen London-based antifraud technology provider Alaric as its fraud-prevention vendor. Alaric’s Fractals antifraud solution uses proprietary mathematical models and self-learning technology to detect and stop fraudulent transactions before they are completed. Alaric said its solution is aimed at PSPs, online merchants, card issuers, acquirers and payments processors.
“Heartland realized that it needed a fraud system it could depend on as its volumes grow,” said Mike Alford, CEO of Alaric. “It has hundreds of thousands of merchants – from fuel stations to restaurants – processing prepaid, credit, debit and gift cards. Fraudsters are always adopting new methods to try to get past the technology and Heartland knew that it had to be proactive in choosing a system that would help it stay ahead.”