Product: SecureBuy 2.0
Company: SignatureLink Inc.
SignatureLink Inc. described its SecureBuy 2.0 as "the most significant technology breakthrough in payment fraud in 15 years." That's because the patented and patent-pending technologies behind the company's latest automated, risk-based fraud prevention application for mobile and e-commerce merchants reportedly addresses all forms of payment fraud without any human intervention necessary.
SecureBuy 2.0 was designed around the premise that it needed to produce a seamless payment experience for consumers, while at the same time create a fast lane for normal and low-risk transactions, and a risk-based authentication lane for elevated-risk transactions.
"Mobile and online merchants in recent years have become accustomed to spending 45 percent of their annual fraud prevention budgets on as many as eight applications and the other 55 percent on human capital in the form of fraud analysts," stated Greg Wooten, Chief Executive Officer at SignatureLink. "This approach has resulted in less than desirable results, with the cost of prevention amounting to more than the payment fraud itself.
"SecureBuy 2.0 removes the need for all of this infrastructure and [the] associated expenses. It automates the process end-to-end in real time to streamline the payment channel and provide merchants a higher level of protection than any available solution in the payments industry."
The company noted that the SecureBuy 2.0 end-to-end product suite not only offers world-class fraud screening, but also features a legally binding virtual signature pad that captures and securely stores online customer signatures, a forensic record of all merchant transactions, and a high-performance chargeback management system.
According to SignatureLink, SecureBuy's all-in-one e-commerce fraud solution creates indisputable proof of purchase on all transactions, which effectively reduces purchase disputes. The company estimated that online and mobile merchants using the SecureBuy 2.0 suite will reduce chargebacks by 93 percent and provide a 55 percent reduction in transaction credits. "Visa and MasterCard have been advocating risk-based authentication for years, and this landmark technology is finally available," Wooten noted. Because SecureBuy 2.0 functions as a hybrid application, it bridges the gap between current issuing bank authentication technology and Visa Inc.'s new Consumer Authentication Service. Certification applications for SecureBuy 2.0 have been submitted to Visa Inc., MasterCard Worldwide, American Express Co. and Diners Club International.
SignatureLink reportedly offers an acquirer program for boarding SecureBuy 2.0 merchants that costs less than most conventional fraud screening programs available, which can run anywhere from 1 to 4 percent of a merchant's gross sales annually.
SignatureLink Inc.
800-511-2050
www.signaturelink.com
The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.
Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.
Prev Next
