Digital River (NASDAQ: DRIV), a leading provider of global e-commerce solutions, announces that the U.S. Patent and Trademark Office issued U.S. Patent No. 7,881,972 entitled, Electronic Commerce System and Method for Detecting Fraud.
This patent describes fraud detection technology specifically for purchase order transactions processed by online stores.
This fraud detection technology and other previously issued patents by Digital River are integral to its world-class fraud prevention solutions. These solutions include its Transaction DefenderTM service, which is capable of linking risks from independent data gathered from global online transactions for digital and physical product purchases. Transaction Defender is one of the leading fraud prevention services offered through the company's enterprise and SMB e-commerce as well as Digital River World Payments solutions.
As part of the dynamic cross-linking data techniques inherent in Transaction Defender, this technology uses transaction information given by customers during the online checkout process to make instantaneous fraud detection decisions. The technology continually scans data points delivered from more than 150,000 Digital River hosted global online stores to reveal new risk patterns and trends in real-time and quickly identify and stop fraud attacks through one central action.
"The real-time methodologies behind Digital River's fraud prevention solutions have been developed over a long period of time to ensure the online fraud system reduces the number of insults and allows more good customers through to complete their online purchases," said Paul Bridgewater, vice president of Digital River World Payments. "By using this leading-edge technology, we can offer our clients best practices in fraud mitigation and increase the revenue generating potential of their online stores."
Digital River offers a comprehensive portfolio of global e-commerce solutions that are delivered on an integrated and stand-alone basis. Digital River World Payments is a full-service, stand-alone global payments solution that enables online merchants to manage the entire payment lifecycle through a single connection rather than dealing with multiple services and vendors. It offers local payment options in more than 190 countries and over 170 transaction and display currencies. Multiple payment programs are available with options, including checkout page optimization, real-time fraud detection, solutions to manage PCI exposure and currency risk, advanced back-office reconciliation services and business intelligence tools.