IdentityMind Global™ Unveils IDMPay Payment Service for Online Merchant Accounts with Strong Anti-Fraud and Risk Management
e-Commerce payment platform delivers highest conversion with transaction protection.Palo Alto, CA (PRWEB) March 27, 2014 IdentityMind Global™, the creators of an on-demand anti-fraud and risk management platform for financial transactions, today introduced IDMPay payment services for online merchant accounts. IDMPay integrates payment services, risk management, and anti-fraud services into one platform, helping high-risk and traditional non-risk online merchants lower fraud rates and chargebacks and increase transaction conversion. Analysts estimate the size of the high-risk market at nearly $850B in annual sales, with 90% of respondents reporting losses in a recent Federal Reserve Survey; payment fraud is a widespread issue. Recent security breaches at major retailers (Target most notoriously) have spurred the introduction of chip-and-PIN cards in response to EMV requirements, which protect the card data at the Point of Sale. However, this does not protect online merchants, or prevent card not present (CNP) fraud. On the contrary, in Europe and other places where EMV has already been implemented, online fraud has in fact increased as fraudsters move to conduct fraud online. “Online commerce has dramatically changed the risk landscape. Anti-fraud is an essential aspect of e-Commerce and merchant services,” said Garrett Gafke, President & CEO, IdentityMind Global. “It just makes business sense to have payments tied to a very strong risk management platform creating a one-stop shop for the market.” One Stop for All Merchant Account Services IDMPay supports a wide variety of payment methods with unique conversion rates, ease of implementation and customization, and excellent client services. With IDMPay, online merchants can now:
- Build payments models that are in tune with their consumer base.
- Maintain a good relationship with banks and card brands (keeping chargeback strategy to comply with regulations).
- Apply succinct risk management strategy (being able to detect and mitigate fraud).