Mosaic Software has entered an agreement to incorporate UK-based Retail Decision's card payment fraud prevention technology within its Postilion EFT software package.
Under the agreement, Mosaic Software clients will be able to simultaneously route card authorisation transactions to ReD’s ebitGuard service for fraud analysis and prevention prior to completion of the merchant transaction.
The ebitGuard service includes customer chargeback and unusual spending pattern analysis, neural scoring of the transaction based upon knowledge acquired from previous transactions and the application of generic or sector specific statistical and velocity rules to quickly identify higher risk transactions. In addition, transactions are compared to screening databases of known fraudulent cards, dispute-prone shoppers, originating or destination phone numbers or IP addresses and known lost and stolen cards.
Johann Dreyer, executive chairman of Mosaic Software, comments: “With the growth of payment card use, e-commerce and card-not-present transactions, the business of combating payment card fraud has never been more important.”