FIS™ (NYSE: FIS), one of the world's largest providers of banking and payments technology, today announced the launch of its comprehensive ClearCommerce® ePayment processing and fraud prevention solution as a hosted service in Europe. This new offering will support multiple market sectors including retail, hospitality and travel.
ClearCommerce is already used by a number of leading U.S.-headquartered e-Commerce retailers and is now being made available as a hosted and managed services solution for any organisation in Europe that accepts online payments. The system connects from the "shopping cart" page of a Web site to any Internet payment page and can also be embedded in mail order/telephone (MOTO) environments for fast, secure and reliable Cardholder Not Present (CNP) payment acceptance.
"As a hosted service, ClearCommerce increases order acceptance rates, making it easier for customers to pay while reducing the cost of fraudulent orders and charge-backs. Cumulatively, this can make a very real difference to a company's bottom line," said Ian Benn, managing director, FIS Payment Solutions, EMEA.
"The hosted approach ensures that FIS takes responsibility for full Payment Card Industry (PCI) compliance. As FIS operates its own secure data centres, merchants do not need to make a significant investment in the IT infrastructure necessary to ensure 24/7/365 service to their customers. FIS also provides multi-language customer call centre support through a managed services agreement, giving merchants and vendors a complete ePayment and fraud management solution for the online marketplace."
Chip and PIN continues to drive more fraud to CNP channels, and tools such as FIS' ClearCommerce can play a significant role in fighting back against online criminals. However, ClearCommerce goes further, improving a cardholder's experience and simplifying processes, which enables merchants to cut costs and improve revenues.
There are four ClearCommerce modules:
• Payment Director™ unifies payment acceptance and fraud detection for multiple card types and brands - including Visa®, MasterCard®, American Express and private label cards. It integrates payment processing with existing IT and eCommerce infrastructure and can deal with more than 100 currencies.
• FraudShield® integrates powerful, comprehensive and highly sophisticated fraud detection technologies.
• RapidReviewer™ brings together all the key data elements for immediate analysis that drives a more accurate fraud decision. RapidReviewer can integrate with existing scoring or decisioning engines, helping merchant fraud analysts to complete the review process quickly and efficiently and lessen the risk of rejecting genuine orders resulting in lost revenue.
• Fraud Management Professional Services is FIS' complete outsourced fraud management option, whereby FIS experts perform all rules and case management, which are tailored to merchants' acceptance policies.