Moneris partners with Kount to expand fraud protection services for Canadian online businesses15-Jan-2018
Moneris Solutions Corporation ("Moneris"), Canada's largest processor of debit and credit payments, today announced their partnership with Kount®, an online fraud protection platform that assesses customer transactions 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 per cent.*
"We are pleased to partner with Kount to bring more payment protection to our merchants," said Jeff Guthrie, Chief Sales and Marketing Officer at Moneris. "Online spend is growing and it's important for businesses to keep on top of fraud threats. Solutions that take advantage of machine learning, and other customizable data points to reduce ecommerce, in-browser and in-app payment fraud are part of the suite of services we're committed to providing our merchants."
Moneris Kount allows businesses to set a risk tolerance profile that best meets their business needs. The system analyzes transaction data in real time, helping businesses make informed decisions to block problematic transactions before they are processed. Large merchants can use the solution seamlessly with the Moneris Gateway and receive assistance throughout the set-up and integration process via the Moneris Kount support team.
"Currently, Moneris Kount tracks merchant identified transactions that flow through Moneris' online merchant portfolio and helps to keep clients safeguarded from potential fraud," said Don Bush, VP of Marketing at Kount. "Our mission is to help businesses accept more legitimate orders, and reduce chargebacks and lost revenue. We are happy to partner with Moneris to bring more merchants the tools that they need to run their business better."
The Moneris Kount partnership provides businesses with layered fraud management tools. These tools take advantage of predictive modeling to analyze hundreds of variables and generate a numeric risk score for each customer that can be applied to the transaction in real-time. This helps businesses to determine valid orders from fraudulent ones, minimizing manual reviews, reducing decision time and margin of potential error.
Moneris 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.
For more information please visit www.moneris.com/kount.