Chase Paymentech and Kount Partner to Combat Fraud for E-commerce Merchants
Chase Paymentech, a merchant acquirer and payment processor, and Kount, an Idaho-based company that specialises in card-not-present (CNP) fraud prevention, have partnered to offer a suite of fraud detection, management and prevention tools for merchants.
Chase Paymentech processes a significant share of global CNP payments, in a wide variety of payment methods, and authorises transactions in more than 130 currencies. Its expertise and fault tolerant infrastructure, paired with Kount’s fraud prevention technology, will introduce a new class of fraud management tools that will improve the reliability and security of card-not-present transactions.
“This alliance underscores our commitment to provide merchants with the tools they need to significantly improve and sustain financial performance. Our partnership with Kount offers merchants the first truly integrated fraud-monitoring tool at the point of transaction authorisation. This is a significant step toward a global effort to reduce CNP fraud,” said Chase Paymentech president Mike Duffy.