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Anti-card fraud alliance delivers improved IP verificaton

192 Business Services : 07 May, 2008  (New Product)
Ability to verify IP address and eliminate use of anonymising proxies during e-commerce transactions strengthens 192 Business Services' ability to combat card not present fraud Business Services has selected Digital Resolve, a leading provider of online fraud detection and prevention solutions, to enhance the power of IP address verification within its 192 Net-ID solution.

According to a recent report by Nielsen Online, 85% of the world's online population has made at least one purchase online, increasing the market for online shopping by 40% in the last two years. While these numbers are encouraging to online retailers, they also increase the number of Internet users that are susceptible to one of today's most serious issues: online fraud.

2007 card fraud figures recently released from APACS, the UK Payments Association, show that card-not-present fraud losses have increased by 37% and account for more than half of all card fraud losses. Much of this increase is directly attributed to the surge in the amount of people shopping online, and highlights the need for online identity verification services to protect merchants and account holders, both at home and abroad, where online payment fraud also continues to escalate as the number of online shoppers increases.

"IP address validation, which is the practice of checking where your customer is physically located while making an online transaction, is a crucial first step in preventing online fraud," said Grant Greenwood Commercial Product Director, 192 Business Services. "By leveraging Digital Resolve's industry-leading technology and their expertise in applying IP Intelligence within a fraud-prevention framework, we will be able to offer our global client base one of the most effective - and low cost - online transaction approval tools available."

192 Business Service's Net-ID solution is designed to help online merchants in the fight against fraud by taking advantage of the fact that every device connected to the internet has an IP address, and that behind that IP address is a host of computer identifying information. The system then leverages this information to identify mismatches between where the customer is connected to the web, the billing address, and the shipping address. The ability to make comparisons between online and offline information is a key step in reducing fraudulent transactions, and has proven to be a cost-effective first line of defense in the transaction approval process.

By upgrading to Digital Resolve's IP Intelligence, 192 Business Services has increased confidence that it is offering customers the most reliable data for verifying customer identity. With Net-ID, clients can look at transaction characteristics including:.

• Geographical distance between the online user's current physical location and his billing and shipping addresses.
• The use of an IP anonymiser when "customers" connect to the web.
• Other IP attributes, including domain, connection type, and ISP.

"The ability to reference real-time information about users during online transactions is a powerful way to help improve the overall identity verification process during card-not-present transactions," said Joseph Saunders, Vice President, Digital Resolve. "We are pleased to collaborate with 192 Business Services on best practices for leveraging our technology with a fraud prevention framework, and are excited that they chose to upgrade their systems with the most robust and reliable information available for IP address verification."

"By marrying elements of the physical world to elements of the virtual world with Digital Resolve's technology, we will be able to add new rules and models to our risk decision platform that will allow customers to identify potential fraud indicators before financial fraud and identity theft can occur," said Grant Greenwood, Commercial Product Director, 192 Business Services. "By providing this first line of defence, our clients can spot inconsistencies between the information in an online application or e-commerce transaction and compare it to an applicant's virtual footprint to verify identity in real-time, helping to determine fraud risk and stop potential losses before they occur."

While 192 Business Services is powering its 192 Net-ID solution with Digital Resolve's IP Intelligence and Geo-location technologies, the company also plans to extend usage to its eShopper ID and other Identify Verification solutions as a core component of the online identity verification and decision-making process.

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