In its second-largest acquisition, Amazon buys the company for $970 million.
Fraud filters that enable online merchants to filter out transactions based on account number or country of origin were released this week on Chase Paymentech`s global processing platform.
Fraud filters that enable online merchants to filter out transactions based on account number or country of origin were released this week on Chase Paymentech’s global processing platform.
To use the filter, merchants can upload a .csv file, or comma separated value file, containing payment card account numbers and/or issuing countries to Chase`s Merchant Portal or manually enter changes through their online interface. Manual changes are effective in real time while uploaded changes are effective within 24 hours.
The fraud filters support all Chase Paymentech processed currencies in the U.S. and internationally.
“Fraud is a key concern for merchants, especially in the card-not-present arena,” says Bob Nadeau, group executive of product development. “Early indications from beta merchants show the tool is effective in minimizing fraud and very easy to use. We believe this will be a valuable addition to our merchants’ arsenal of fraud management solutions.”