Canada-based Moneris, the nation’s largest debit and card payment processor, said it will use Kount technology to address the risk of card-not-present fraud for its corporate customers. According to the companies, this kind of fraud presents the greatest payment fraud risk for corporations, especially companies that facilitate eCommerce, mail order or phone order transactions.
“We are pleased to partner with Kount to bring more payment protection to our merchants,” said Moneris Chief Sales and Marketing Officer Jeff Guthrie in a statement. “Online spend is growing and it’s important for businesses to keep on top of fraud threats. Solutions that take advantage of machine learning and other customizable data points to reduce eCommerce, in-browser and in-app payment fraud are part of the suite of services we’re committed to providing our merchants.”
The partnership will integrate predictive modeling to identify payment fraud risks, the firms explained, giving each customer a numeric score in real time to assess any threat. The technology can help automate fraud detection, allowing businesses to spend less time manually looking into individual transactions.
“Currently, Moneris Kount tracks merchant-identified transactions that flow through Moneris’ online merchant portfolio and helps to keep clients safeguarded from potential fraud,” stated Kount VP of Marketing Don Bush. “Our mission is to help businesses accept more legitimate orders and reduce chargebacks and lost revenue. We are happy to partner with Moneris to bring more merchants the tools that they need to run their businesses better.”