Transaction processor First Data Corp. has launched Fraud FlexDetect, an e-commerce fraud detection and prevention service, in collaboration with Accertify Inc.
Accertify, an Itasca, Ill., subsidiary of American Express Co., provides software, tools and strategies for preventing online fraud and mitigating risk.
Fraud FlexDetect offers card-not-present businesses a tool that operates directly inside each transaction's authorization flow, First Data said in a Monday press release. Merchants may access the tool through several of the Atlanta processor's platforms, eliminating integration efforts for thousands of e-commerce businesses.
"With Fraud FlexDetect, merchants can develop a customized strategy that strikes the right balance between control and delegation of fraud prevention activities and, because it is integrated into our existing payment platforms, there is virtually no [information technology] effort or maintenance," Bruce Dragt, First Data senior vice president and division manager for payment acceptance, said in the release.
The service uses a scoring engine to evaluate risk based on a merchant's customized parameters. It offers a consolidated review interface for further identification and risk analysis. More than 100 merchants signed up for the service during the pre-release period, according to First Data.
First Data is a unit of the private-equity firm Kohlberg Kravis Roberts & Co.
