Premium Risk Management Solution delivers complete fraud prevention management for credit-card-not-present payment transactions
Austin, TX – August 9, 2004 – ClearCommerce, the leading provider of fraud prevention and payment processing solutions, announced today that Fingerhut Direct Marketing, a catalog and online retailer of private label and brand-name consumer merchandise, is using the ClearCommerce Premium Risk Management Solution, a new, turnkey fraud prevention service.
The service offers retailers the greatest level of security possible by combining its leading arsenal of fraud prevention tools with daily and individual order case reviews by ClearCommerce’s in-house fraud prevention experts. The ClearCommerce tool also ensures consumer information is safeguarded with the highest level of protection.
“While Fingerhut continues to enhance its rapidly growing online sales channel, we also recognize that the Internet’s complex environment provides ample opportunities for fraud,” said Don Lynch, executive vice president for credit marketing of Fingerhut. “With ClearCommerce’s industry-leading detection service we have dropped to an acceptable chargeback rate. We feel confident ClearCommerce will help us protect our online market.”
Even with only 20 fraudulent orders per day in a sustained attack for a 30-day period, retailers can face significant losses in the hundreds of thousands of dollars. The larger the retailer, the easier it is for criminals to hide bad orders, quickly devastating a retailer’s bottom line.
“Using an arsenal of fraud management tools will greatly reduce the incidences of fraud, but there still is no replacement for live detective work to catch what is falling outside the established parameters,” said Robert J. Lynch, president and CEO of ClearCommerce. “Our premium service puts those detectives and fraud prevention experts to work for retailers on their specific needs.”
A fully outsourced, managed tool, Premium Risk Management Solution includes rapid implementation and set-up services, expert configuration assistance, fully automated order screening services, and a unique collection of data resources for enhanced protection. Also available are an array of consulting services designed to help monitor and fine tune the service to stay ahead of constantly evolving fraud schemes.
ClearCommerce Risk Management is the most accurate and effective solution available to protect against fraud attacks, increase revenue, and improve profitability of card-not-present sales channels. The solution integrates a comprehensive and powerful arsenal of fraud detection technologies to create a flexible decision platform that can be easily customized to specific merchant business requirements. ClearCommerce Risk Management is available as licensed software, and now as a fully managed, hosted services offering.
Fingerhut Direct Marketing
Fingerhut Direct Marketing, Inc. is a direct to the consumer marketing company selling a broad selection of merchandise including electronics, housewares, home textiles, jewelry and furniture. Products are marketed through catalogs and the Internet to millions of consumers nationwide. Fingerhut maintains a proprietary database to provide credit, target offers and build lifetime relationships with customers. For more information visit www.fingerhut.com.
ClearCommerce is the leading provider of fraud prevention and payment processing solutions to merchants and service providers in the U.S. and Europe. ClearCommerce software is used by 80,000 businesses worldwide, including customers such as Adobe, Apple Computer, Barclay’s, and Staples. ClearCommerce delivers the most accurate fraud prevention and most flexible electronic payment solutions for credit-card-not-present sales channels. For more information, visit www.clearcommerce.com.