Transaction processor First Data Corp. has launched Fraud FlexDetect, an e-commerce fraud-detection and prevention service, in collaboration with Accertify Inc., the companies announced April 4.
Accertify, an Itasca, Ill.-based 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, Atlanta-based First Data noted in a news release. Merchants may access the tool through several of First Data’s processing 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, payment acceptance, said in the release.
The service uses a scoring engine to evaluate the transaction risk based on the merchant’s customized parameters. It also 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.
With Fraud FlexDetect, merchants may assess each transaction and validate suspicious activity without turning away potential sales, according to First Data.
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