NEW ORLEANS, ETA Annual Meeting & Expo â€“ May 1, 2013 â€“ NorsePayments and Quatrro Processing Services, two leaders in payments and security fraud, today announced the launch of eCommerceShield, the first solution that protects businesses across the entire payment lifecycle and is a merchant’s best defense against online payment fraud. eCommerceShield blocks card-not-present (CNP) fraud through a triple layer of protection that includes Internet security intelligence, advanced fraud detection technology and expert human analysis, all delivered via the most robust payment gateway available today.
Online payment and CNP fraud continue to grow, threatening merchants’ bottom line. According to the LexisNexis True Cost of Fraud Study, conducted by Javelin Strategy & Research, every dollar of CNP fraud costs an online merchant $2.70 in chargebacks, lost merchandise, penalties and fees, and administrative expenses. eCommerceShield represents an important new entry in the fight against payment fraud by giving small and medium businesses an effective defense that has otherwise been available only to major retailers. The solution saves money and reduces loss that stems from bad payments. It also removes the burden on internal resources needed to chase down and remediate fraud.
“eCommerceShield protects merchants throughout the complete transaction lifecycle, both pre authorization and post authorization,” said Brent Gephart, Vice President of Payments Strategy and Operations for NorsePayments. “Other solutions rely on manual review, which the merchant is often responsible for, or outdated security data that is not going to protect merchants in the here and now. Fraud prevention needs to be fast and as close to real time as possible, before goods ship. That’s why eCommerceShield is an important new option for SMBs.”
Kevin Spear, Senior Vice President for Quatrro, said that eCommerceShield is about peace of mind for merchants, as much as it is about protecting them.
“eCommerceShield lets business owners focus on preventing fraud rather than allocating resources to clean up after it,” said Spear. “Most small and mid-size businesses have only modest defenses, if any, against the new wave of cybercrime-driven payment fraud. We want to not only free businesses from dealing with card-not-present fraud, we want to free them from thinking about it.”
eCommerceShield runs over one of the most powerful payment gateways in the industry, and is fully PCI compliant to secure customer data. The payment gateway is integrated with almost every major payment processor in the world.
Benefits of eCommerceShield
For small and medium businesses, eCommerceShield provides a number of benefits:
- Freedom to focus on the core business, not fraud prevention. Business owners can rely on industry experts and eliminate fraud review and chargeback remediation headaches that drain time and resources.
- Substantial savings. Proven technology that has already saved millions of dollars for major companies is now available to small and medium businesses.
- Fewer “false positives.” In addition to catching fraud, review by expert analysts dramatically reduces the number of good transactions rejected.
- Brand protection. Pre-authorization screening prevents fraudulent use of credit card data at any business using eCommerceShield.
- Protect the ability to do business online. Too many fraudulent transactions can lead to credit card issuers prohibiting a merchant from ever again taking credit and debit payments. eCommerceShield virtually eliminates this threat.
- Peace of mind. With eCommerceShield’s proven fraud technology in place, businesses are free to pursue what really matters â€“ managing and growing their business.
About Quatrro Processing Services
Quatrro Processing Services provides an innovative approach for your credit, debit and prepaid card processing needs. Our portfolio of processing solutions are delivered by a non-legacy platform that offers a flexible and customizable alternative. Quatrro also offers an integrated suite of managed services across the entire risk cycle spanning credit, fraud and portfolio management. By leveraging our Analytics and Transaction Monitoring solutions, your organization can more effectively manage your core competencies resulting in increased cost savings, streamlined operations and improved business processes. For more information please visit:www.quatrro.com
NorseCorp is redefining IT security and fraud prevention as the only provider of true live cyber-threat intelligence. Norse’s patent-pending IPViking technology continuously monitors the Internet for malicious high-risk network traffic and cyber threats. Using proprietary big data analytics, IPViking turns this data into live actionable threat intelligence, enabling enterprises to prevent financial fraud, enhance network security and protect against breaches through websites, applications, e-commerce systems, and network connected devices. For more information about NorseCorp and IPViking, please visit www.norse-corp.com.
Contact:Marnie Keller for Quatrro Processing Services
[email protected] Brian Posnanski for NorseCorp