Payment fraud prevention specialist SecureBuy and analytics firm FICO have partnered to create a fraud prevention system for card-not-present (CNP) transactions.

The SecureBuy product uses Fico’s cloud-based fraud detection technology to assess mobile and online payments for fraud risk in real time.

Greg Wooten, CEO of SecureBuy, said: "The rules of mobile and online commerce are changing rapidly, with over 100m stolen credit and debit cards and user profiles being pumped into the payment ecosystem in just the last few months.

"There is no room for error. Every transaction needs to be assessed for risk, even if it is tied to a customer with a previously clean purchase history."
"CNP fraud is growing rapidly as shopping moves online and chip-and-PIN technology makes other fraud schemes less successful," said TJ Horan, vice president for FICO’s fraud management solutions.

"Together with FICO fraud detection, the SecureBuy solution significantly improves fraud monitoring and decreases fraud losses, all while ensuring that consumers aren’t inconvenienced by fraud."

 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Related articles:

US watchdog urges credit card firms to make credit reports free

Well over half of UK credit card applicants turned down last year – TotallyMoney.com

Capital One rethinks home visit contract clause