AmEx buys digital security outfit InAuth
06 December 2016 | 6901 views | 0
American Express has moved to boost its fraud fighting capabilities through the acquisition of mobile device authentication specialist InAuth. Financial terms of the deal were not disclosed.
Founded in 2011, InAuth uses device authentication to help banks, payment networks and merchants evaluate the potential risk of digital transactions such as customers logging into their accounts on mobile apps or web browsers, or making online purchases.
AmEx already uses InAuth's technology and the acquisition comes just months after the card giant made an investment in the firm through its investment arm.
The deal is designed to help AmEx take advantage of the migration of customers to digital channels for everything from payments to account origination and servicing - a trend that has also seen fraud shift to online and mobile.
Anré Williams, president, global merchant services and loyalty group, AmEx, says: "This acquisition, along with Accertify and other significant investments we’ve made in data analytics and technology, will help us continue to offer security and protection to our merchants and partners as mobile and online spending drive commerce."