Fraud Oracle, Inc. announced the launch of its new Fraud Score service for online merchants. Fraud Oracle, Inc. provides anti-fraud detection systems for e-commerce transactions, reducing the incidence of fraudulent payments through merchants’ websites.
“The Fraud Score service was devised to enable online merchants to gain insight into the fraud risks of online credit card transactions,” said Edward Pimentel, VP Sales Engineering. “While an order is taking place on a merchant’s website, the Fraud Score service instantly delivers a fraud risk score for the payment. This allows the merchant to decide, for example, to review any orders over a certain score, preventing the loss of merchandise, chargeback costs and refunds that fraudulent payments inevitably result in. It’s been very exciting seeing this technology help our clients reduce nearly all of their losses from stolen credit cards.”
The new Fraud Score service returns a payment fraud risk score in the range of 0 (low risk) to 100 (high risk of fraud). The service works for all payment methods including credit card transactions and PayPal. Fraud Oracle’s detection system is based upon several layers of rules and pattern matching, along with proprietary systems that constantly monitor and learn how fraudulent transactions evolve over the Internet.
“The Fraud Score service was built from years of research and development that focused on how to get the system working accurately and making sure that it would pay for itself several times over when in use. The costs of fraud don’t have to be explained to online merchants, they deal with that daily. So using a service that helps eliminate those costs makes the decision fairly easy. To do this, merchants need the best tools available in the fight against e-commerce fraud, ” continued Pimentel.
Fraud Oracle is offering the service free for 30 days to online merchants. They can sign up for the free trial of the Fraud Score service on the Fraud Oracle.
About Fraud Oracle
Fraud Oracle’s mission is to provide simple, easy-to-implement, and accurate e-commerce anti-fraud systems. Our technology goes beyond the typical anti-fraud techniques, using proprietary pattern matching and fraud behavior detection technology. The Fraud Oracle technology is constantly learning to detect what a typical transaction fraud indicator looks like ‘today’ through a global network of systems examining how malicious parties access and use the Internet to create these transactions. Through use of our anti-fraud systems, merchants can prevent loss and protect their reputation with payment processing services.