August 21, 2014, 12:47 PM

Feedzai rolls out fraud scoring tool for e-commerce platforms

Its software for alerting e-merchants to possible fraudulent transactions is now available with e-commerce software from Shopify and Bigcommerce.

Feedzai Inc. has introduced software for identifying potentially fraudulent transactions on retail web sites running on e-commerce technology from vendors Shopify Inc. and Bigcommerce Pty Ltd.

Merchants operating their e-commerce sites on Shopify or Bigcommerce technology can use the Feedzai application to receive alerts whenever Feedzai scores a pending e-commerce transaction  as possibly fraudulent based on various criteria. “Merchants can then dive deeper to see a list of reasons to block or allow the transaction,” Feedzai says.

Nuno Sebastiao, CEO of Feedzai, says the risk-management application is designed to notice potentially fraudulent transactions that may result from breaches of networked consumer data in physical stores and other sources as well as web sites.

The Feedzai application helps to identify potentially fraudulent transactions with various data sources, including:

  • IP geo-location for identifying users logging in from countries or other locations known for high levels of risk;
  • Street-level maps that show the physical location of the IP address of the individual trying to make on online purchase, which can be cross-checked with the shipping address;
  • The identification of Internet access devices known for having been involved in online fraud;
  • The identification of e-mail addresses that a user only recently began using, which could indicate an e-mail address created for a limited time to commit fraud.

The cost of using the Feedszai application is on a per-tra

There is no charge for using the Feedszai application for the first 10,000 transactions per year (that threshold can vary based on a user’s annual volume); after that, the cost ranges from one to five cents per transaction, a spokeswoman says.

Feedszai, which has offices in San Mateo, CA, and Lisboa, Portugal, is backed by investors including SAP Ventures and Data Collective. Its clients include Coca-Cola Co., Vodafone and SIBS Payment Solutions.

Bigcommerce provides e-commerce software that ranges in cost from $29.95 to $199.95 per month, based on the level of data storage and other features. Shopify’s software runs from $29.00 to $179.00 per month, also based on data storage and other things.

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