The newly introduced platform provides evaluation of payment transactions, account creation and login verification protecting merchants from accepting fraudulent transactions, acquirers and payment service providers (PSP) from fraudulent account creation and fraudulent merchants.
IdentityMind’s antifraud platform is based on the concept of “electronic DNA” or “eDNA”. eDNA is the profile created for each internet identity based on the combination of parameters observed over time during the execution of online transactions. By combining the eDNA with the user’s historical records and payment behavior, IdentityMind can evaluate every transaction.
During 2011, IdentityMind has enabled close partners to develop their own antifraud services based on the antifraud platform, proving fraud detection capabilities. The platform is currently collecting and tracking the payment behavior of more than 40 million internet identities.
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