Chase Paymentech processes a significant share of global CNP payments, in a variety of payment methods, and authorizes transactions in more than 130 currencies. Its fault tolerant infrastructure, paired with Kount’s fraud prevention technology, will introduce a new class of fraud management tools that will improve the reliability and security of card-not-present transactions.
The ability to provide merchants with a real-time fraud score at the time of bank authorization will help merchants. This benefit coupled with dynamic order linking, device fingerprinting, proxy piercing and other Kount capabilities will allow merchants to accurately detect and reject a significant percentage of fraudulent orders, saving merchants costly chargeback fees and fines associated with fraud.
Mike Duffy, president of Chase Paymentech, said: “This alliance underscores our commitment to provide merchants with the tools they need to significantly improve and sustain financial performance. Our partnership with Kount offers merchants the first truly integrated fraud-monitoring tool at the point of transaction authorization. This is a significant step toward a global effort to reduce CNP fraud.”
Brad Wiskirchen, CEO of Kount, said: “The result of our partnership with Chase Paymentech will be a new class of tools and utilities for controlling CNP fraud. The comprehensive suite of products will give merchants a new level of certainty that current and future forms of fraud can be controlled.”
