RIDGELAND, Miss., Aug. 6, 2013 /PRNewswire/ — SecureBuy, the industry leading architect of payment fraud prevention technology, has announced a critical upgrade to their complete end to end eCommerce and Mobile payment fraud solution that allows merchants to process orders from blacklists with all reward and no risk!
Blacklisting is a very common practice in eCommerce where a merchant compiles a list of untrusted customers by name, zip code, IP address, or even entire countries. Many fraud prevention systems use networks of aggregated data from thousands of merchants to compose "master lists" of blacklisted profiles that they then provide as a service. This is no longer best practice, because sometimes there are good customers in bad neighborhoods, zip codes and countries. The only countries that should ever be blacklisted are the one's listed on the OFAC list.
When a transaction is flagged by the SecureBuy 2.0 real-time passive authentication engine: the consumer is presented with active authentication in the form of 3D Secure. It is seamlessly interjected within the shopping cart only for high risk transactions. Internationally recognized, 3D Secure protects merchants from fraud related chargebacks. Additionally 3D Secure protects consumer's financial data from being used by fraudsters. A recent study found that 75% of consumers placed the security of their personal and financial information as their top priority when shopping online.
SecureBuy is a direct MPI provider of 3D Secure and has gone a step further by creating and developing a proprietary patent-pending "3DS Decision Engine" to ensure merchants that the issuing bank accepts the financial liability for the transaction. No other 3D Secure solution in the industry offers the added assurance of checking each transaction with automation, to make sure all necessary response codes were received to satisfy the issuing banks requirements, in order to accept the liability of the transaction.
"The merchant doesn't have to worry about financial loss from a particular transaction because all elevated high risk transactions automatically invoke active authentication (3D Secure.) Why wouldn't a merchant want to turn their blacklists into new sales revenue or process transactions from other countries without the associated risks?" said Chris Wooten, EVP of Sales.
About SecureBuy
SecureBuy is a wholly owned subsidiary of SignatureLink, Inc., founded in 2002. SecureBuy is the leading architect of automated fraud technology and eCommerce hosting solutions. With a unifying focus on reducing the risk of eCommerce, call centers, customers, merchants and payment processors: SecureBuy solutions extend from payment fraud prevention to identity authentication and globally hosted real-time eCommerce cyber-security solutions. www.SecureBuyCommerce.com.
Media Contact:
Justin Mingo
SecureBuy – Public Relations
408.769.5007
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