Kount, Moneris partner to protect Canadian online businesses against fraud23-Jan-2018
Kount, an online fraud protection platform that assesses customer transactions in real time, has teamed up with Moneris, a Canadian processor of debit and credit payments. The partnership provides businesses with layered fraud management tools. These tools take advantage of predictive modelling to analyse hundreds of variables and generate a numeric risk score for each customer that can be applied to the transaction in real-time.
The Moneris Kount partnership will allow large businesses using the Moneris Gateway to reduce fraud exposure and chargeback risks from online and in-app transactions. Card-not-present (CNP) transactions are the highest risk for fraudulent payments that affect businesses today – specifically those that do mail order, telephone order or ecommerce transactions. Since Canada's shift to chip and PIN card transactions in 2011, CNP fraud has increased by 130%, according to the official press release.
The Canadian processor is focused on driving business success for new and existing customers by keeping them informed and providing the tools needed to keep them secure. As part of this commitment, Moneris Kount will also be available to small businesses across Canada later in 2018.