Forter Adds Omnichannel Fraud Prevention Platform

Forter, which pegs itself as the consumer-centric fraud prevention solution, announced yesterday (March 26) the launch of a new product aimed at developing an omnichannel fraud prevention platform.

The product is designed with retailers in mind, as it will help Forter continue to deliver its real-time Decision-as a Service. The product will help those retailers prevent fraud in phone orders, helping Forter further expand its “360 protection across all forms of card not present (CNP) customer interactions,” the company said. This security solution provides real-time fraud payment protection from those made through call centers or phone representatives; it also allows retailers to deliver an omnichannel experience without having to worry about fraud — creating what Forter calls a frictionless experience.

“With EMV migration around the corner, phone fraud has a potential to increase substantially and become a major soft spot for merchants,” the company wrote in a news release, which cited a recent MRC & Cybersource report that said merchants expect to lose 1.4 percent of their telephone order revenue to payment fraud.

“Phone fraud is astonishingly high. …We built our phone order solution to not only protect businesses, but also provide a frictionless user experience for the customer,” said Liron Damri, Forter COO and co-founder. “Expanding our set of solutions beyond the eCommerce and m-commerce space, our product for phone orders is the missing link for total fraud prevention, which is currently overlooked by most of the vendors in the industry despite of the growing need of merchants.”

Forter’s online commerce and mobile payments solution allows it to provide full liability for the transactions in the phone order solutions. The money-back assurance is what Forter believes helps create a stronger relationship with their customers who can rely on the company to protect them. Because the system works in real-time, the retailer never has to worry about the spread of fraud and there is not delay when looking for a decision; it also can help ease the buyer experience since the customer doesn’t have to wait, Forter said.

“Forter is committed to deliver a full protection against fraud – regardless of payment type, Channel or transaction,” Damri said. “Our vision is to enable commerce by delivering the most advanced fraud prevention – and allowing online retailers to focus on what they do best – which is selling products, while [taking] full care of the risk.”