Paypers: Kount starts supporting payments via Apple Pay
Fraud and risk management technology company Kount has begun supporting Apple Pay in the company’s global fraud solution platform.
With Apple Pay, customers don't share their actual credit and debit card numbers when they make purchases. Instead, a device account number is assigned, encrypted and stored. When a customer makes a purchase, that number along with a transaction-speciﬁc dynamic security code is used to process the payment. Apple never shares the actual card numbers with merchants or transmits them with payment. In addition, the cashier never sees the customer's name, card numbers or security code.
Kount’s solution enables its customers, both online merchants and online payment processors, to stay ahead of the hyper-speed developments in payments and cybercrime. Because Kount technology is designed to be agnostic to payment type and device, it offers customers a future-proof fraud solution when it comes to devices and payment type.
Kount is an all-in-one SaaS platform which enhances fraud detection and enables online businesses accept more orders. Kount’s proprietary technology has reviewed hundreds of millions of transactions and provides protection for global brands. Merchants using Kount can accept more orders from more people in more places.
Source: The Paypers.