RIDGELAND, Miss., March 4, 2014 /PRNewswire/ — SecureBuy, a leader in global payment fraud prevention and security technology, today announced that it has created a new frictionless payment fraud solution for mobile and online card-not-present (CNP) payment processing, powered by technology from FICO, a leading predictive analytics and decision management software company. The solution uses cloud-based analytics to score transactions for fraud risk in real time, offering advanced protection to merchants.
(Photo: http://photos.prnewswire.com/prnh/20140304/PH75726LOGO-a)
(Photo: http://photos.prnewswire.com/prnh/20140304/PH75726LOGO-b)
This new SecureBuy solution includes powerful, analytics-based fraud detection technology originally developed by FICO for credit and debit issuing banks. This technology is used in FICO® Falcon® Fraud Manager, the world's leading fraud management solution that protects more than 2.5 billion payment cards worldwide. The new solution integrates FICO's proven self-calibrating analytics and global intelligent profiling with SecureBuy's powerful physical attribute authentication to create a new industry performance benchmark for frictionless payment authentication.
Integrated within the shopping cart or point-of-sale (POS) application, SecureBuy has dramatically increased the performance levels of its well-known SecureBuy® 2.0 fraud solution. This new SecureBuy solution will be hosted within SecureBuy datacenters and offered to acquiring banks, ISOs and enterprise merchants.
"The rules of mobile and online commerce are changing rapidly, with over 100 million stolen credit & debit cards and user profiles being pumped into the payment ecosystem in just the last few months," said Greg Wooten, CEO of SecureBuy. "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."
Availability
The new frictionless payment solution is currently available directly from SecureBuy.
About FICO
FICO is a leading analytics software company, helping businesses in 80+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company's groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. FICO: Make every decision count™. Learn more at www.fico.com.
About SecureBuy – A SignatureLink Company
SecureBuy is a wholly owned subsidiary of SignatureLink, Inc. Founded in 2002; SecureBuy is an established eCommerce cyber-security and technology company, a payment fraud prevention pioneer and leader. SecureBuy's innovative technology reduces or eliminates the risk of payment fraud for merchants, call centers, consumers and payment processors. SecureBuy provides the latest next-generation automated technologies and solutions to reduce revenue erosion from payment fraud and to stabilize eCommerce. For SecureBuy news and media resources, visit www.securebuycommerce.com
FICO, Falcon and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
Media Contacts:
SecureBuy
Kate Blatner
Director of Corporate Communications
408.769.5007
FICO
Elisabeth Hershman
+1 212 289-6734
Email