SecureBuy, in collaboration with FICO has developed a new frictionless payment fraud solution for mobile and online card-not-present (CNP) payment processing.
According to SecureBuy, the new solution will use cloud-based analytics to score transactions for fraud risk in real time, offering advanced protection to merchants.
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The new SecureBuy solution will include analytics-based fraud detection technology that was originally developed by FICO for credit and debit issuing banks.
SecureBuy said that its new solution will be hosted within its datacentres and will be offered to acquiring banks, ISOs and enterprise merchants.
FICO fraud management solutions vice president, TJ Horan, said: "Together with FICO fraud detection, the SecureBuy solution significantly improves fraud monitoring and decreases fraud losses, all while ensuring that consumers aren’t inconvenienced by fraud."
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By GlobalData
