FICO, SecureBuy Partner on Fraud Detection for Online Purchases
Banks and credit unions are outperforming retailers in the war against credit card fraud, according to a new survey from Javelin Strategy & Research.January 23
About one in three Americans has now been affected by the Target data breach. Will this massive security incident interrupt the inertia that has held card security in a holding pattern for the past decade?January 14
TSYS announced Monday that it's extending its partnership with credit scoring and analytics company FICO and jointly offering a fraud management system.August 19
As shopping moves online and chip-and-PIN technology is being created to make card-present fraud schemes less successful, card-not-present fraud has not seen a slowdown.
SecureBuy and FICO have partnered to develop a solution that protects merchant customers from potential card-not-present fraud.
The solution uses cloud-based analytics from FICO that score transactions for fraud risk, technology that is currently used in FICO Falcon Fraud Manager.
The new product will be hosted within SecureBuy datacenters and offered to credit and debit issuing banks, ISOs and enterprise merchants.
"The rules of mobile and online commerce are changing rapidly, with over 100 million stolen credit and debit cards and user profiles being pumped into the payment ecosystem in just the last few months," says Greg Wooten, CEO of SecureBuy, in a March 4 press release. "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."