Plug and Pay Introduces New Fraud Prevention Software, RiskTrak, Designed to Protect Merchants and Merchant Banks From Fraud
HAUPPAUGE, NY -- 02/26/2003 -- Plug and Pay Technologies, Inc., one of the nation`s leading secure Internet gateways, has introduced new anti-fraud software, RiskTrak, that will help stop fraudulent transactions from being submitted for payment.
RiskTrak works by continually monitoring activity in real-time and comparing it against historical patterns. Suspicious activity triggers an escalating response ranging from a warning to suspension of settlement ability.
"We are very pleased to be offering this new level of protection for our customers," said David Price, President of Plug and Pay. "RiskTrak is a complement to our existing rules-based fraud filter and with this addition we are putting the final piece of the puzzle into place. Now, even if fraud, or sometimes even a simple clerical error, takes place, we can prevent those funds from getting out the door."
"There are many products in the market that will screen and filter and give an assessment of risk, but at the end of the day, these systems only minimize the risk. But with RiskTrak in place, the worst possible scenario will be eliminated. Even if a hacker, or an employee gone bad, does penetrate the system and is able to run unauthorized sales or credits, those items will not be submitted for payment -- and that means our customer has no exposure to monetary loss. We believe that this is a very powerful tool."
Even in the short time that the system has been in place, RiskTrak has saved Plug and Pay`s customers tens of thousands, and in one case hundreds of thousands, of dollars in potential losses.
About Plug and Pay Technologies, Inc.
Plug and Pay Technologies, Inc., founded in 1996, is a leading provider of payment and digital fulfillment solutions for Internet merchants. Plug and Pay’s payment systems allow merchants to accept and manage both credit card and electronic check payments in a secure environment. Plug and Pay’s industry-leading digital fulfillment systems allow merchants to offer digital goods for real-time fulfillment and to manage and maintain online membership and recurring billing services. Plug and Pay is integrated with the most complete selection of the payment industry`s processing centers which allows them to provide their on-line payment solutions to any and all customers. Plug and Pay’s services can be located through its web site (www.plugnpay.com) or through its reseller partners.
Contact: Randy Ridings
Phone: 631-761-0159 ext. 105
Email: randy@plugnpay.com
Back...
