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News

Partnership for reduction in online shopping fraud

Iovation : 24 November, 2008  (Company News)
Alliance between iovation and Merchant911 created for the prevention of such eCommerce crimes as shipping fraud, credit card frauds and illegal chargebacks
iovation and Merchant911 have announced a partnership to promote the use of device-based fraud prevention solutions to mitigate the risk of online fraud within the online retail industry.

The partnership will introduce Merchant911's member-based community of more than 3,800 online merchants to iovation's ReputationManager fraud management service, which uses device reputation technology to proactively identify fraudulent computers and stop scams such as credit card fraud, chargebacks, and shipping fraud that continue to plague the eCommerce industry.

"Merchant911 doesn't endorse companies easily, but when I saw what iovation was doing to fight e-Commerce credit card fraud, I recognised it as a unique service," said Tom Mahoney, founder and director of Merchant911. "Their device reputation service is a tool that nobody else offers and it can plug a huge hole in credit card fraud prevention for online merchants. iovation's device reputation approach to fighting credit card fraud is unique in the industry. I see it as the best first line of defense against fraud."

iovation's ReputationManager device reputation technology allows online retailers to determine in milliseconds whether a transaction is coming from a computer that has been associated with fraudulent or abusive behavior in the past. The service is built on iovation's shared Device Reputation Authority fraud network, which manages the reputations of more than 80 million unique computers and mobile devices worldwide. Businesses using this real-time service can immediately act on this information to prevent all forms of online fraud. The software as a service does not impact the end-user experience or require any personally identifiable information (PII), which protects the identity and privacy of consumers.

"Merchant911 has been a tireless advocate for educating the online retail community about fraud challenges and supporting solutions that protect merchants from credit card fraud," said Greg Pierson, CEO of iovation. "Fraud continues to evolve and poses significant challenges to eCommerce. Online merchants need to be aware of new threats, as well as effective solutions to protect their business. We look forward to working with Merchant911 to keep online businesses informed."
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