Europay France Cuts Down Credit Card Fraud

Wednesday 28 July 2004 08:17 CET | News

While credit card fraud remains no issue for MasterCard payments within France due to a chip and PIN environment, cross-border fraud has risen dramatically during the past years.

Europay France (EPF) has now decided to fight back and to implement the IRIS fraud prevention solution delivered by IRS Intelligent Risk Management Solutions GmbH, an affiliate of Germanys leading processing-services provider GZS Gesellschaft für Zahlungssysteme mbH. IRIS is installed at EPFs processing centres in Paris and alerts to all suspicious cross-border transactions of the more than 14 million French MasterCards in real time. Strikingly, this performance is reached while EPF neither has access to domestic transaction nor cardholder data. In contrast to competing neural net solutions, IRIS is not dependent on complete cardholder profiles. In fact, a similar IRIS implementation is protecting cross-border transactions of more than 90 million German debit cards with great success since the end of 2001.

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Categories: Payments & Commerce | Payments General
Countries: World
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