First Data Corp. announced an agreement Tuesday to integrate fraud-prevention technology from Accertify Inc. with its e-commerce processing gateways and platforms for online merchants.
"Growth in online transactions is driving higher levels of fraud, and e-commerce clients need a fraud product to maximize revenue and minimize costs," said Souheil Badran, a senior vice president at First Data and its division manager for e-commerce.
Accertify's Interceptas platform works with First Data's existing tokenization and encryption product, known as the First Data Secure Transaction Management service, to protect customer payment data. First Data is integrating the Accertify product with its payment-authorization process to help eliminate fraudulent orders, Badran said. The product, available now, is to be fully integrated with First Data's systems in the first quarter, a spokeswoman said.
First Data, of Atlanta, is offering the Chicago company's technology to its 300,000 global e-commerce, card-not-present merchants. Badran would not reveal the cost of the Accertify product, noting only that it varies by merchant.