CASE STUDY: ThreatMetrix gives eMerchantPay a substantial competitive advantage

Customers see diminished chargeback ratios and decreased fraudBackground
eMerchantPay, a fast-growing international online payment service provider, attributes its success to outstanding customer service, full technical support and proven anti-fraud measures. Its global clients from multiple e-commerce industries rely on eMerchantPay to protect their customers from fraudsters and reduce financial loss caused by payment fraud. Since eMerchantPay builds trust with its clients by enabling them to give their customers the

In its ongoing fight against fraud, eMerchantPay deployed multiple high-powered fraud scrubbing products. When a single server generated a significant number of fraudulent transactions, the source of the fraudulent volume was identified and blocked. While effective, eMerchantPay conducted an extensive search to find a new solution that would also make a measurable difference to their clients’ bottom line by reducing chargebacks and false positives.

In evaluating the ThreatMetrix Cybercrime Defender Platform, the risk management team at eMerchantPay found that it used the industry’s most advanced device ID technology. This solution identifies the true source of a transaction by analyzing devices connecting to websites and looking for suspicious signs of fraud across a large global network of transactions. By blocking fraud before it costs money, the risk management team realized that selecting ThreatMetrix would give eMerchantPay a valuable selling proposition and a real competitive advantage.

Solution
ThreatMetrix device identification is now fully integrated into several eMerchantPay service offerings. It enables the risk management team to leverage ThreatMetrix’ advanced transaction analytics capability to approve or decline a transaction and block fraudulent devices. ThreatMetrix’ cloud-based platform ensures the analysis is performed instantaneously and the results are delivered in real time.

The ThreatMetrix solution includes:
• Cloud-based, real-time device ID and identity verification
• VPN detection ability
• Proxy piercing
• Phishing detection
• TCP/IP packet fingerprint detection
• Global network of shared intelligence

The eMerchantPay risk team also has the ability to fine tune the analytics further based on their own business environment, unique risk profile and acquired information. The dashboard makes it easy for the risk team to see devices with attempts by multiple credit cards, check repeating email details used in several devices, identify patterns and monitor all transactions through the payment gateway. Plus, they use ThreatMetrix data to make intelligent decisions based on all executed transactions originating from approved and legitimate websites around the world.

Result
After implementing ThreatMetrix, eMerchantPay has seen diminished charge back ratios and less fraud. False positives have been reduced as well. eMerchantPay directly discloses to its clients that ThreatMetrix is its online fraud protection partner. This has been viewed positively, with many clients already having a ThreatMetrix account.

Vyara Samoukova, eMerchantPay PR and Marketing Manager, said: “eMerchantPay relies on ThreatMetrix to combat fraud, protect merchants’ reputations and build trust with global online customers.”

Recently, a fraudster tried to attack eMerchantPay merchants using stolen credit card data. The attack was almost undetectable as the transactions originated in countries corresponding to the credit cards. The risk team was alerted and began tuning up ThreatMetrix. The fraudster changed credit card details with each fraud attempt, but his time zone stayed constant. Using ThreatMetrix’ advanced analytics platform, the eMerchantPay team was able to find the sophisticated attempt, and also terminated any future attempts from this attack vector.

About Andreas Baumhof, Chief Technology Officer, ThreatMetrix

Andreas Baumhof is an internationally renowned cybersecurity thought leader and expert with deep experience in the encryption, PKI, malware and phishing markets. Prior to ThreatMetrix, Mr. Baumhof was an executive director, CEO and co-founder of Australian-based TrustDefender and co-founder and chief technology officer of Microdasys, Inc. While there, he developed the first SSL proxy and has patents pending in Europe and the US.

COMPANY PROFILE

ThreatMetrix secures web transactions against account takeover, payment fraud, identity spoofing, malware, and data breaches. The ThreatMetrix Global Trust Intelligence Network, which analyzes 500 million monthly transactions, provides context-based authentication and Web fraud prevention to help companies accelerate revenue, reduce costs and eliminate friction. ThreatMetrix protects more than 1,900 customers and 9,000 websites across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.