Vantiv (NYSE: VNTV), announced today that its subsidiary Litle & Co., a leading ecommerce payment processor, has signed an agreement with ThreatMetrix, the fastest-growing provider of integrated cybercrime prevention solutions, to incorporate ThreatMetrix's Payment Fraud solution into Litle's Fraud Toolkit.
With the addition of ThreatMetrix, Litle now offers merchants ever more advanced tools - including device fingerprinting, IP geolocation, proxy and VPN detection, and reputation scoring - for detecting and preventing sophisticated, emerging fraud attacks. Litle's advanced fraud tools, powered by ThreatMetrix, can help merchants mitigate fraud in card-not-present (CNP) commerce and reduce the impact from fraud, which resulted in an estimated $3.5B in costs and losses to North American CNP merchants in 2012.
"We're committed to providing our clients with the latest tools needed to execute a comprehensive fraud strategy," said Bill Weingart, chief product officer at Vantiv. "That's why we enhanced our Fraud Toolkit with ThreatMetrix. Their continuing investment in product innovation and data infrastructure ensures that Litle and its clients can count on protection not only from today's threats, but also those that will emerge in the future."
ThreatMetrix correlates a visitor's online behaviors and association through the rich data and advanced analytics in the ThreatMetrix(TM) Global Trust Intelligence Network (The Network). The Network is the only global data repository that provides insight into positive and negative behavior, and threat intelligence, for both online personas and devices using trust-based authentication. The platform enables businesses to analyze the digital personas of website visitors, including their previous online behaviors and transactions, before authorizing an online transaction. By doing so, ThreatMetrix further helps businesses reduce friction for legitimate, returning online customers while stopping cybercriminals from coming through businesses' front doors.
"We are pleased that Litle chose to partner with ThreatMetrix in our continuing efforts to protect merchants against payment fraud," said Bert Rankin, chief marketing officer at ThreatMetrix. "The dynamic and persistent nature of fraud, particularly in the CNP marketplace, makes agility and innovation imperative to its prevention. These shared values form the foundation of both of our companies' cultures, and we are very excited about this partnership."