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Posted March 7, 2011
A Leading Provider of Payment Processing Solutions Has Selected ThreatMetrix for its Comprehensive Enterprise Rules and Policy Engine Geared to Prevent Fraud
Los Altos, CA – March 8, 2011 – ThreatMetrix™, the fastest growing provider of cloud-based fraud prevention solutions that do not require personally identifiable information (PII), today announced that Moneris Solutions has selected ThreatMetrix to help prevent online fraud and abuse.
“With the potential increase in merchant demand for more enhanced fraud prevention solutions we sought out more robust offerings, eventually turning to ThreatMetrix,” said Terry Langdon, director of Web-based solutions, Moneris Solutions. “We will integrate the ThreatMetrix Fraud Network solution into our e-commerce APIs so our customers can quickly adopt them, further adding value to the Moneris-merchant relationship.”
According to Langdon, Moneris Solutions was attracted by ThreatMetrix’s enterprise rules and policy engine ability that enables fraud analysts to detect proxy usage, botnets, script attacks and other anonymization attempts, and allows for customizable policies and rules specific to their business requirements.
“ThreatMetrix provides customers with a configurable transaction behavior-based rules engine, with default templates for common use cases backed by machine learning algorithms for predictive scoring,” said Bert Rankin, vice president of marketing, ThreatMetrix. “We look forward to working with Moneris Solutions, helping them provide their merchants with more timely and comprehensive information about each transaction.”
In addition to the behavior-based rules engine, reputation scores are calculated algorithmically based on transaction feedback across the ThreatMetrix Fraud Network.
“Our goal is to give a relevant result to our merchants to help them quickly and efficiently differentiate between low and high risk transactions. We want to reduce the number of times they have to investigate a transaction,” said Langdon. “The bottom line is that we’re helping our merchants grow by enabling them to conduct more transactions quickly and safely. Having the right mix of technology with rules-based processing and device fingerprinting is important.”
As one of North America’s largest providers of payment processing solutions, Moneris offers credit, debit, wireless and online payment services for merchants in virtually every industry segment and processes more than three billion transactions annually. Through its Ernex division, Moneris offers electronic loyalty and stored-value gift card programs. With more than 350,000 merchant locations, Moneris provides the hardware, software and systems needed to improve business efficiency and manage payments. For more information please visit www.moneris.com.
ThreatMetrix®, The Digital Identity Company®, is the market-leading cloud solution for authenticating digital personas and transactions on the Internet. Verifying more than 20 billion annual transactions supporting 30,000 websites and 4,000 customers globally through the ThreatMetrix Digital Identity Network®, ThreatMetrix secures businesses and end users against account takeover, payment fraud and fraudulent account registrations resulting from malware and data breaches. Key benefits include an improved customer experience, reduced friction, revenue gain and lower fraud and operational costs. The ThreatMetrix solution is deployed across a variety of industries, including financial services, e-commerce, payments and lending, media, government and insurance.
Walker Sands Communications