Enhanced Fraud Detection and Mitigation Capabilities Help Reduce
International Transaction Risk
CHARLOTTESVILLE, Va. and PORTLAND, Ore. – March 11, 2008 – PayByCash (Internet Payment Solutions, Inc.), a leading global payments provider, and iovation, the device reputation authority of the Internet, today announced a partnership to help online businesses combat payment and credit card fraud. Under the partnership, PayByCash will offer iovation’s real-time ReputationManager™ device reputation fraud management service as a part of its online payment services to protect massively multiplayer online games (MMOs) and other online merchants from all forms of payment fraud.
“PayByCash’s top priority is to provide our customers with safe and secure payment services that are protected by the industry’s most advanced fraud management tools,” said Kevin Higgins, CEO of PayByCash. “iovation’s innovative device reputation techniques further enhance our ability to stop online payment and credit card fraud perpetrated by devices we may or may not have seen before. Together, iovation and PayByCash provide fraud detection and mitigation capabilities that are proven to substantially reduce the risks associated with accepting credit cards and potentially reversible alternate payment options from anywhere in the world.”
Integrating iovation’s patented device reputation technology into its online payment services gives PayByCash deeper insight into the history of accounts requesting financial transactions. iovation’s device-based fraud management service identifies devices that have been used for fraud and abuse in the past and creates a web of association that exposes hidden device and account relationships that exist within a network and across the Internet. Subscribers sharing iovation’s Device Reputation Authority™ network of more than 30 million unique device reputations are better equipped to stop financial fraud or prevent devices from acquiring new credit cards using false or stolen information.
“Fraudsters are doing everything they can to stay one step ahead of traditional methods of fraud control in areas such as payment fraud and credit card application approvals,” said Greg Pierson, CEO of iovation. “iovation augments PayByCash’s existing fraud management tools by providing an additional layer of protection that prevents known fraudulent accounts and devices from committing financial fraud or applying for credit cards under different or stolen identity information. PayByCash is a leading provider in the online payments arena and we are thrilled to partner with them to provide customers with a stronger fraud fighting solution that reduces all forms of online payment and credit card fraud.”
PayByCash has been providing alternate payment options processing since April 1998. PayByCash connects merchants trying to take advantage of the Internet’s global reach and consumers who want or need to pay without a credit card. Through PayByCash, merchants gain the ability to accept about 70 payment methods via one single integration and one processing relationship. PayByCash is the best and easiest way to reach demographics or areas of the world characterized by low credit card penetration.
PayByCash also handles all foreign currency acceptance and customer support for the payment methods they provide. For more information, visit www.paybycash.com.
iovation, headquartered in Portland, Oregon, pioneered the use of device reputation for managing online fraud, abusive behavior and multi-factor authentication. Today, iovation manages the reputation of millions of Internet-enabled devices worldwide, allowing its customers to control online fraud and abuse while benefiting from sharing device reputation intelligence. For more information on iovation and the company’s products, visit www.iovation.com.