CyberSource introduces authorization service with enhanced fraud screening tool

[February 13th 2001]

CyberSource Corporation has announced the introduction of the CyberSource Smart Authorization service. The new payment processing service, enhanced with a powerful, built-in fraud screen, is designed to help businesses selling online or via call centers efficiently combat credit card fraud and automatically process more valid orders.

Credit card fraud is a growing problem. According to a report released this month by Meridien Research, online payment fraud will increase ten-fold in the next four years. Despite this threat, many merchants find that the tools currently available to guard against fraud don't meet their needs. Simplistic tools, such as the banking network's Address Verification System (AVS), perform very limited screening and, therefore, often let a significant volume of fraud slip through while inappropriately blocking legitimate orders. More complex tools are highly accurate but require technical resources and risk management expertise to install and operate.

The new CyberSource Smart Authorization service combines powerful fraud screening technology and credit card processing into a single, easy-to-use tool. Merchants that wish to take advantage of this new service follow the same simple steps for implementing the CyberSource Credit Card Authorization service and current CyberSource Authorization customers can have Smart Authorization turned on within minutes since there is no merchant configuration or human intervention required. The service performs a variety of tests, such as address validation, screening for obscenities and nonsensical names, and crosschecking against merchant-specific "negative files" consisting of known bad addresses and credit card numbers. Test results are then processed in a powerful internal decisioning engine at CyberSource and a simple "Approve" or "Decline" recommendation is returned to the merchant.

"We've had a number of customers ask for a fraud screening service that is easy to implement and operate because they experience significant levels of credit card fraud and don't have dedicated technical or fraud management resources," said Tracy Wilk, Vice President of Product Management for CyberSource Corporation. "Our new Smart Authorization service meets the needs of these customers because it was designed to detect high risk fraud, minimize human intervention and requires no extra implementation or operation time."

Links
CyberSource		http://www.cybersource.com