To reduce merchant costs and risk associated with card-not-present fraud
Chase Paymentech, a merchant acquirer and payment processor, and Kount, a Boise, Idaho-based company that specialises in card-not-present (CNP) fraud prevention, have entered into an agreement to offer a suite of fraud detection, management and prevention tools for merchants.
Chase Paymentech processes a share of global CNP payments, in a variety of payment methods, and authorises transactions in more than 130 currencies.
The companies said that the combination of Chase Paymentech’s expertise and fault tolerant infrastructure and Kount’s fraud prevention technology, will introduce a new class of fraud management tools that will enhance security of card-not-present transactions.
In addition, the combination will to provide merchants with a real-time fraud score, dynamic order linking, device fingerprinting, proxy piercing, enabling merchants to detect and reject a significantly higher percentage of fraudulent orders, saving merchants costly chargeback fees and fines associated with fraud, the companies claim.
Mike Duffy, president of Chase Paymentech, said: “This alliance underscores our commitment to provide merchants with the tools they need to significantly improve and sustain financial performance. Our partnership with Kount offers merchants the first truly integrated fraud-monitoring tool at the point of transaction authorisation.”