Recurly Teams Up with Kount to Help Subscription-Based Merchants Combat Fraud30-Mar-2016
San Francisco, CA – March 30, 2016 – Recurly Inc., the enterprise-class subscription management platform, today announced a partnership with Kount, a leading provider of online and mobile fraud detection and prevention solutions to offer anti-fraud services focused on the needs of subscription-based merchants. Together, Kount and Recurly protect the revenue of subscription-based businesses from the losses and operational overhead caused by card-not-present fraud.
Credit card fraud, especially the category of card-not-present (CNP) fraud, is a major concern for subscription businesses. Javelin Strategy & Research predicts that CNP fraud, which includes online transactions, to be nearly four times greater than point-of-sale card fraud by 2018. Further driving CNP fraud growth is the U.S. rollout of EMV credit cards, designed to augment point-of-sale transaction security, which shift fraudsters’ efforts from physical to digital channels.
“Every aspect of our company is built to ensure the growth and preservation of predictable recurring revenue for our customers,” said Dan Burkhart, chief executive officer, Recurly. "Safeguarding profit, reducing associated costs, and, ultimately protecting brands is a shared goal between Kount and Recurly as we seek to detect and stop fraud before it impacts revenue and damages both subscriber and banking relationships.”
Fraudulent transactions costs are multifold for subscription-based businesses. Direct financial impact includes lost goods and services as well as hefty fees by gateways and merchant banks due to chargebacks. And, if abnormal or excessive chargebacks occur, merchants also face the risk of suspension or termination of gateway and merchant bank relationships. In addition, combating fraudulent transactions often requires large investment in personnel to conduct arduous manual reviews of potentially risky transactions.
"Our cloud-based platform is ideally suited to help merchants protect their business from cybercriminals, a mission that requires constant vigilance in an ever-evolving threat landscape,” said Brad Wiskirchen, chief executive officer, Kount. "We are excited to work with the team at Recurly to tailor a fraud solution that is unique to the specific business needs of subscription-based merchants.”
Kount helps businesses boost sales by reducing fraud. The company’s all-in-one, SaaS platform simplifies fraud detection and helps online and mobile businesses accept more orders. Kount’s turnkey fraud platform is easy-to-implement and easy-to-use. Kount’s proprietary technology reviews billions of data points and provides maximum protection for some of the world’s best-known brands. Merchants using Kount can accept more orders from more people in more places than ever before. For more information about Kount, please visit www.kount.com.
Recurly, Inc. delivers agile enterprise-class subscription management to thousands of SaaS, media, mobile, consumer goods, productivity and publishing businesses worldwide. Businesses like AccuWeather, Sling Media, Groupon, JibJab Media, Asana, Twitch.tv and Zillow depend on Recurly’s ability to cut through the complexity of subscription management to drive recurring revenue growth. Since its launch in 2010, Recurly has deployed subscription billing for thousands of companies in 32 countries, making it the most trusted pure play provider of subscription management services. Recurly is PCI-DSS Level 1, SAS 70 / SSAE 16 Compliant, and operates in compliance with the data protection practices outlined in the E.U. Safe Harbor agreement. For more information, visit http://recurly.com.
Te Smith, Recurly
Ashley Dolezal, Zeno Group for Recurly