Chase partners Early Warning for real-time fraud protection around ACH payments

Source: Chase Commerce Solutions

Chase Commerce Solutions, the global payment processing and merchant acquiring business of JPMorgan Chase & Co., today announced a strategic alliance with Early Warning, a provider of risk management solutions, which will enhance account verification and authentication for businesses and provide real-time fraud protection for payments made via the Automated Clearing House (ACH) network.

The alliance demonstrates Chase’s dedication to offering best-in-class risk and fraud management tools in ACH processing for national and mid-market businesses and solidifies Chase as the only acquirer offering real-time account validation. This allows Chase to offer tools that protect businesses and their customers through every stage of the payment process including real-time fraud protection for ACH payments.

Chase will add two integral services from Early Warning:

  • Real-time Payment Chek® Service -- verifies the status of a bank account
  • Real-time Payment Chek® Service with Account Owner Authentication (AOA) -- verifies the owner of the bank account

“Businesses trust Chase to be by their side in every step of the payment process, and our strategic alliance with Early Warning will provide an improved customer experience through reduced non-sufficient funds (NSF) and other transaction returns while increasing approval rates,” said Kimberly Fitzsimmons, U.S. President for Chase Commerce Solutions. “By providing real-time account verification, we can continue to earn that trust from merchants and their customers. Plus, Real-time Payment Chek Service with Account Owner Authentication, coupled with our existing real-time validation process, adds to Chase’s risk protection solutions to meet our clients’ needs.”

“As the industry focuses more heavily on innovations in payments and even faster payment systems, the need for a solution to instantaneously and accurately verify account information has grown,” said Lou Anne Alexander, Chief Market Development Officer of Payment Solutions for Early Warning. “Early Warning was recently selected as NACHA’s Preferred Partner for account validation services, and likewise now Chase, through our Real-time Payment Chek Service with AOA, can better reduce instances in which insufficient funds or fraudulent transactions create either losses or customer frustration.”

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