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CyberSource's Authorize.Net Announces New Fraud Prevention Capabilities
LAS VEGAS, April 22, 2009 /PRNewswire-FirstCall via COMTEX/ --
2009 ETA Annual Meeting & Expo -- CyberSource Corporation (Nasdaq: CYBS) today announced that its Authorize.Net small business solution will be releasing Advanced Fraud Detection Suite (AFDS), a robust, rules-based fraud detection system that allows online merchants to identify and handle suspicious transactions using multiple filters, tools and custom settings.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990513/CYBRSOURCELOGO)
According to CyberSource's 10th Annual Online Fraud Report, U.S. merchants lost an estimated $4 billion to fraud in 2008. The Advanced Fraud Detection Suite was specifically built to provide small business merchants with tools to better combat online fraud while saving legitimate orders from being rejected. The original Fraud Detection Suite, launched in 2005, included seven powerful transaction filters and IP tools. AFDS adds five additional filters:
-- Address Verification Service Filter - The Address Verification Service
(AVS) is a standard feature of the Authorize.Net Payment Gateway that
compares the address submitted with an order to the address on file with
the customer's payment card issuer. Merchants can then choose to
accept or reject transactions based on AVS response codes. AFDS
includes a new AVS filter that assists the decision process by allowing
merchants the additional options of flagging AVS transactions for
monitoring purposes, or holding them for manual review.
-- Card Code Verification Filter - Like AVS, Card Code Verification (CCV)
is a standard feature of the Authorize.Net Payment Gateway. CCV uses a
payment card's three- or four-digit number to validate customer
information on file with the card association. Like the AVS Filter, the
CCV filter allows merchants the additional options of flagging
transactions for monitoring purposes, or holding them for manual review.
-- Shipping Address Verification Filter - Verifies that the shipping
address received with an order is a valid address with the U.S. Postal
Service.
-- IP Shipping Address Mismatch Filter - This filter compares the shipping
address provided with an order to the order's originating IP
address. This helps to determine whether or not the order is shipping to
the country from which it originated.
-- Regional IP Address Filter - Allows merchants to flag orders coming from
specific regions or countries. Merchants can choose to customize the
filter actions for a broad geographic region, or modify their fraud
strategy country by country.
Authorize.Net is also releasing a new Daily Velocity Filter to its entire merchant base at no additional charge. The Daily Velocity Filter allows merchants to specify a threshold for the number of transactions allowed per day, a useful tactic in identifying high-volume fraud attacks.
Like its predecessor, the Fraud Detection Suite, AFDS enables merchants to customize filter settings to match individual business needs and control how the payment gateway handles suspicious transactions, including the ability to hold a transaction for manual review. A description of the original seven filters, as well as more on AFDS can be found at http://www.authorize.net/afds.
"eCommerce fraud remains a significant area of concern for merchants of all sizes," stated John Bodine, VP, Sales and Marketing, Small Business. "The new filters available with the Advanced Fraud Detection Suite are an important upgrade for merchants looking to protect themselves from fraud and potentially minimize their losses, and reflect CyberSource's long commitment to providing advanced fraud management for all our customers, from small to enterprise. Additionally, we're happy to offer the Daily Velocity Filter as a standard payment gateway feature so all of our merchants can utilize another tool to help safeguard their business."
Authorize.Net Advanced Fraud Detection Suite is expected to be available in May. Resellers attending the Electronic Transactions Association (ETA) Annual Meeting and Expo are invited to stop by booth 627 to learn more about AFDS and other Authorize.Net solutions.
About CyberSource
CyberSource Corporation is a leading provider of electronic payment and risk management solutions. CyberSource solutions enable electronic payment processing for Web, call center, and POS environments. CyberSource also offers industry leading risk management solutions for merchants accepting card-not-present transactions. CyberSource Professional Services designs, integrates, and optimizes commerce transaction processing systems. Approximately 253,000 businesses use CyberSource solutions, including half the companies comprising the Dow Jones Industrial Average. The company is headquartered in Mountain View, California, and has sales and service offices in Japan, the United Kingdom, and other locations in the United States including Bellevue, Washington and American Fork, Utah. For more information on CyberSource please visit www.cybersource.com or email info@cybersource.com. For more information on Authorize.Net small business solutions, please visit www.authorize.net or email sales@authorize.net.
(C)2009 CyberSource Corporation. All rights reserved. CyberSource is a registered trademark in the U.S. and other countries. All other brands and product names are trademarks or registered trademarks of their respective companies.
SOURCE CyberSource Corporation
http://www.cybersource.com
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