Under the terms of the agreement, SignatureLink will integrate ThreatMetrix’s Cybercrime Defender platform with its online friendly fraud technology providing merchants and the payment community with an online payment fraud service.
The combined companies will be able to release an online payment fraud management service able to fight all online payment fraud. SignatureLink’s cloud based CNPS/TransExam online payment friendly fraud service allows merchants to capture a human wet signature and purchase agreement online.
The new service is set to become available via an agreement with payment services provider USDT Corporation in Q1 of 2012. The CNPS / TransExam service will be directly integrated in the form of an enterprise platform extension and offered to more than 100,000 merchants worldwide. Additionally, the service will also be made available in Q2 2012 via direct and indirect sales channels to card brands, payments processors, acquiring financial institutions, e-commerce platform providers and online merchants.
ThreatMetrix serves a global customer base across a variety of industries, including financial services, e-commerce, payments, social networks, government and healthcare.
“Friendly fraud” occurs when a consumer, without a valid reason, refuses the acceptance of the charge for a transaction he performed and reports the false claim to his bank/card issuer requesting a refund or chargeback.
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