Kount offers new service to combat fraud09-Sep-2014
Fraud and risk management technology company, Kount to announced today the launch of Kount Central, a new service to combat fraud at the payment processor level. Aimed at the top of the payment chain, Kount Central is designed to integrate with online payment processors such as acquirers, payment service providers, hosted pay pages and payment gateways, enabling each to help all their merchants reduce the negative effects of fraud.
Kount Central provides protection to “stop fraud at the ‘choke point’, moving up the payments ecosystem to the payments processor,” said Brad Wiskirchen, CEO Kount. “Now processors can provide added value with proven services that will enable their merchants to increase sales without the fraud risk associated with online payments.”
As breaches become more widespread, payment processors increasingly face the challenge of providing a trusted, integrated fraud solution to merchants that reduces fraudulent transactions, while mitigating fines and penalties from regulators. As new technologies are rolled out for point-of-sale terminals at brick-and-mortar retailers, it is highly likely that cyber criminals will move online, making the challenge of a fraud-free payment process even more pronounced.
The Kount Central solution requires only a single integration with the payment processor, easing the technology implementation process considerably for merchants. With the IT hurdle out of the way, merchants can be up and running in minutes. Kount Central can then be implemented in any or all of three main models:
Kount Central Enterprise enables processors to add value and increase the retention of their largest and highest volume customers. It offers a direct link into Kount’s comprehensive platform of tools and analytics. This level of Kount Central is a direct response to processors looking for ways to add value and step away from the price compression for these merchants.
Kount Central Fraud Manager allows processors to develop their own custom dashboard interface for their merchants, with the capability to set fraud and risk parameters for their individual business. This interface, powered by Kount Central, is easy to use and understand. Like all Kount products it does not require dedicated fraud or IT managers to operate.
Kount Central Portfolio Manager places a blanket of protection over all transactions conducted by any given payment processor, providing them with an accurate and comprehensive picture of where risk is within their merchant/customer base. Kount Central also strengthens internal reporting capabilities, revealing deeper insight into fraud and risk associated with individual merchants they service. Kount Central Portfolio Manager also helps payment processors that want to provide the added value of fraud protection to their entire merchant portfolio.
Currently, there are millions of online businesses globally serviced by only a few hundred acquirers. Kount Central gives payment processors the opportunity to create additional revenue streams, help overall margins and increase customer value, while simultaneously addressing new regulatory and compliance policies.