Litle Launches Fraud Tool Kit with Help from ThreatMetrix
Feb. 10, 2014
Litle & Co., the e-commerce processing subsidiary of Cincinnati-based acquirer Vantiv, today revealed it has partnered with ThreatMetrix on a new Fraud Tool Kit it says will give merchants the comprehensive protection they need without costly and complex integrations with third-party fraud providers.
“There are a lot of great companies with good products for fraud prevention,” said Bill Cohn, principal product manager at Litle & Co. “But our merchants did not want to have to separately integrate to take advantage of those services.”
In the Fraud Tool Kit, Litle combines filter technology and a rules engine it had developed in house with more sophisticated technologies from ThreatMetrix. Litle’s merchants can choose from among the different “tools” to achieve the level of protection they feel is right for their business, according to Neeraj Gupta, fraud solutions product manager for Litle & Co. Gupta said Litle’s fraud filters provide ways to stop transactions performed by specific payment cards for specific reasons (e.g., the card had a previous chargeback, the card had previously been flagged for fraud or it is a non-reloadable prepaid card). Merchants can choose any of seven filters for a basic level of protection.
For more comprehensive protection, the ThreatMetrix technology enables Litle merchants to leverage device ID, proxy piercing and IP geolocation. But, even more than that, it is access to ThreatMetrix’s intelligence network that enables Litle clients to benefit from fraud data gathered by ThreatMetrix around the world.
“They see 40 million devices come across their servers every day,” said Gupta. “The result of that is four out of five times that a transaction is sent to them for fraud consult, they have seen the device before. They have a record for the device and can attest to its reputation in some way shape or form. We look forward to benefitting from that network continuing to grow from the traffic we send to it.”