MasterCard and Kount Join Forces to Help Merchants Fight e-Commerce Fraud
New method enables merchants to more accurately detect fraudulent transactions
Purchase, NY – MasterCard Worldwide (NYSE: MA) and Kount, a leading provider of fraud prevention and management technology, today announced an agreement to make MasterCard’s Expert Monitoring Fraud Scoring for Merchants available to Kount and its merchant customers.
MasterCard’s Expert Monitoring Fraud Scoring for Merchants Application Programming Interface (API) improves an online merchant’s ability to detect and prevent fraudulent purchases. With this tool, that leverages the strength of the MasterCard network and data insights, MasterCard provides merchants with a highly accurate predictive fraud score that gives broader insight into card behavior beyond what merchants can see on their own. This means that merchants can more accurately detect fraudulent transactions, as well as lessen the potential of declining valid transactions.
Kount is the first company to offer the MasterCard Expert Monitoring API to merchants. Via the API tool, Kount is integrating the Expert Monitoring fraud score into its advanced merchant fraud prevention platform in order to help ecommerce merchants minimize the risk of losses resulting from fraudulent online transactions.
“This is truly a service designed with merchants in mind,” says Johan Gerber, Group Head, Processing Products for MasterCard. “It offers merchants and fraud solution providers a way to easily integrate the Expert Monitoring risk score into their fraud detection systems – meaning they can enjoy the immediate benefits of the additional insight without a lot of work on their part. It’s an immediate win for them.”
“Our customers rely on us to provide leading-edge, real-time fraud detection that frees them up to worry less about risk and focus on expanding their business,” said Brad Wiskirchen, CEO of Kount. “As cybercriminals increase in numbers and sophistication, merchants need the most effective tools possible. Combining the Expert Monitoring System Fraud Scoring for Merchants via the MasterCard API with Kount’s award-winning platform agent can provide an added level of insight to help merchants further customize their fraud protection according to specific parameters that match the needs of their businesses. Combining the talents of MasterCard and Kount can help merchants stay ahead of the ever-increasing fraud risk and increase the odds of winning the war on fraud.”
For more information regarding MasterCard’s API tool, please visit developer.mastercard.com.
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.
Kount helps online businesses boost sales by reducing fraud and allowing them to accept more orders. Our all-in-one, SaaS platform is designed to simplify fraud detection and dramatically improve bottom line profitability. Merchants using Kount can accept more orders from more people in more places than ever before. For each transaction, Kount’s “decisioning” engine analyzes hundreds of relevant variables and activity across the globe in real-time providing the most accurate fraud prediction available, reducing the need for manual review of orders. Kount’s proprietary technology has reviewed hundreds of millions of transactions and provides maximum protection for some of the world’s best-known brands. For more information about Kount, please visit www.kount.com
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