ThreatMetrix Announces Online Fraud Protection for Magento e-Commerce Platform
Posted December 3, 2013
The Plug-in Extension Helps Online Merchants Reduce Chargebacks and Increase Revenue
San Jose, Calif. – December 3, 2013 – ThreatMetrix™, the fastest-growing provider of integrated cybercrime solutions, today announced the general availability of an online fraud plug-in extension of its ThreatMetrix Platform for the Magento e-commerce platform. The ThreatMetrix extension works with both Magento’s Enterprise and Community Editions. Magento, owned by e-Bay, is the leading small to medium business e-commerce platform, providing online merchants with flexibility and control over their e-commerce store.
“The ThreatMetrix extension will enable Magento merchants to identify potential fraudulent e-commerce card-not-present (CNP) transactions at the point of checkout, reduce chargebacks and increase revenue,” said Bert Rankin, chief marketing officer, ThreatMetrix. “It does so without putting barriers in place that might inconvenience and limit the number of online shoppers while helping Magento customers protect their brand reputation. Through the integrated plug-in solution, Magento customers can gain best-in-class online fraud protection with minimal effort.”
The ThreatMetrix TrustDefender Cybercrime Protection Platform extension detects stolen credit cards in real-time by combining device attributes, malware detection and sophisticated analytics with the user identity and transaction details. This real-time analysis provides online merchants an additional layer of protection to reduce the costs of fraud while protecting the online experience for legitimate customers and enables merchants to:
• Reduce costs of transaction fraud chargebacks and fees
• Protect transactions and customers from malware targeting their credit cards and online identity
• Reduce lost sales from false positives by utilizing advanced device identification and context-sensitive fraud detection
The ThreatMetrix TrustDefender Cybercrime Protection Platform collects and analyzes online identities, device attributes, device integrity and malware status of the device. Business policies combine several anomaly and malware detection rules to evaluate the transaction in real-time. A customer configurable transaction score provides the business intelligence for merchants accept transactions from authentic customers and reject fraudulent transactions from cybercriminals. ThreatMetrix correlates a visitor’s online behaviors and association through the rich data and advanced analytics of the ThreatMetrix Digital Identity Network – 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.
For more information on how the ThreatMetrix will benefit e-Bay’s Magento e-commerce platform customers or to purchase the solution, contact ThreatMetrix at firstname.lastname@example.org.
ThreatMetrix secures Web transactions against account takeover, payment fraud, identity spoofing, malware, and data breaches. The ThreatMetrix Digital Identity 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 1,900 customers and 9,000 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.
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