SignatureLink Launches Online and Mobile Fraud Prevention Solution
Jan. 7, 2013
SignatureLink, the Ridgeland, Miss.-based company that made its name by offering digital signature technology to help fight online fraud has introduced a comprehensive fraud-fighting technology it says eliminates the need for costly manual review by humans. The company said SecureBuy 2.0 comprises several patented and patent-pending technologies developed by SignatureLink and Visa and shifts the risk of authenticated transactions from the merchant to the issuing bank. The solution functions as a hybrid application bridging the gap between current issuing bank authentication technology and Visa’s new Consumer Authentication Service as it comes online with issuing banks.
“Mobile and online merchants in recent years have become accustomed to spending 45 percent of their annual fraud-prevention budgets on as many as eight applications and the other 55 percent on human capital in the form of fraud analysts,” said Greg Wooten, CEO of SignatureLink, Inc. “This approach has resulted in less than desirable results, with the cost of prevention amounting to more than the payment fraud itself. SecureBuy 2.0 automates the process end-to-end in real time to streamline the payment channel and provide merchants a higher level of protection than any available solution in the payment industry.”