First Data Corporation, a global leader in electronic commerce and payment processing, today announced the next evolution of its eCommerce fraud detection and prevention solution with the launch of Fraud FlexDetect, built in collaboration with Accertify.
With online commerce continuing to grow and cybercrime becoming increasingly prevalent, merchants can protect their business from unauthorized card use with Fraud FlexDetect. It offers card not present businesses of all sizes a robust fraud detection and management tool that operates directly within each transaction's authorization flow. Fraud FlexDetect is accessible through several of First Data's existing processing platforms, eliminating integration effort for thousands of eCommerce businesses.
"We must be relentless in our efforts to stay one step ahead of fraudsters; with Fraud FlexDetect merchants can better respond to changing fraud trends," said Bruce Dragt, SVP and division manager, Payment Acceptance, First Data. "We are seeing a great initial response to this solution amongst our merchants. 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 IT effort or maintenance."
Fraud FlexDetect includes a real-time scoring engine that evaluates the risk level of transaction data based on the merchant's customized parameters, and also includes a consolidated review interface for further identification and analysis of transaction risk. More than 100 merchants signed up for the service during the pre-release period.
Some of Fraud FlexDetect's tools include device fingerprinting, IP geolocation and velocity checks. The solution provides merchants with a user-friendly interface that contains streamlined reporting and link analysis; multiple levels of role access and visibility to compare fraud scores against chargeback and dispute data. With Fraud FlexDetect, merchants can conduct an accurate assessment of each transaction and can validate suspicious transactions without turning away potential sales.