Litle & Co. Adds Advanced Fraud Detection Capabilities Powered by ThreatMetrix
Posted February 10, 2014
Cincinnati, Ohio, – February 10, 2014 – Vantiv, Inc. (NYSE: VNTV), announced today that its subsidiary Litle & Co., a leading ecommerce payment processor, has signed an agreement with ThreatMetrix™, the fastest-growing provider of integrated cybercrime prevention solutions, to incorporate ThreatMetrix’s Payment Fraud solution into Litle’s Fraud Toolkit.
With the addition of ThreatMetrix, Litle now offers merchants ever more advanced tools – including device fingerprinting, IP geolocation, proxy and VPN detection, and reputation scoring – for detecting and preventing sophisticated, emerging fraud attacks. Litle’s advanced fraud tools, powered by ThreatMetrix, can help merchants mitigate fraud in card-not-present (CNP) commerce and reduce the impact from fraud, which resulted in an estimated $3.5B in costs and losses to North American CNP merchants in 2012 (CyberSource, 2013 Online Fraud Report).
“We’re committed to providing our clients with the latest tools needed to execute a comprehensive fraud strategy,” said Bill Weingart, chief product officer at Vantiv. “That’s why we enhanced our Fraud Toolkit with ThreatMetrix. Their continuing investment in product innovation and data infrastructure ensures that Litle and its clients can count on protection not only from today’s threats, but also those that will emerge in the future.”
ThreatMetrix correlates a visitor’s online behaviors and association through the rich data and advanced analytics in the ThreatMetrix™ Global Trust Intelligence Network (The Network). The Network is the only global data repository that provides insight into positive and negative behavior, and threat intelligence, for both online personas and devices using trust-based authentication. The platform enables businesses to analyze the digital personas of website visitors, including their previous online behaviors and transactions, before authorizing an online transaction. By doing so, ThreatMetrix further helps businesses reduce friction for legitimate, returning online customers while stopping cybercriminals from coming through businesses’ front doors.
“We are pleased that Litle chose to partner with ThreatMetrix in our continuing efforts to protect merchants against payment fraud,” said Bert Rankin, chief marketing officer at ThreatMetrix. “The dynamic and persistent nature of fraud, particularly in the CNP marketplace, makes agility and innovation imperative to its prevention. These shared values form the foundation of both of our companies’ cultures, and we are very excited about this partnership.”
ThreatMetrix secures Web transactions against account takeover, payment fraud, identity spoofing, malware, and data breaches. The ThreatMetrix Global Trust Intelligence Network, which analyzes 500 million monthly transactions, provides context-based authentication and Web fraud prevention to help companies accelerate revenue, reduce costs and eliminate friction. ThreatMetrix protects more than 160 million active user accounts, 2,500 customers and 10,000 websites across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government, and insurance. For more information, visit www.threatmetrix.com or call 1-408-200-5755.
About Vantiv, Inc.
Vantiv, Inc. (NYSE: VNTV) is a leading, integrated payment processor differentiated by a single, proprietary technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes in the U.S., enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is the third largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company’s growth strategy includes expanding further into high growth payment segments, such as ecommerce, payment facilitation (PayFacTM), mobile, prepaid and information solutions, and attractive industry verticals, such as petroleum, business-to-business, government, healthcare, gaming and education. For more information, visit www.vantiv.com.
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Director of Public Relations