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SecureBuy® Powered with FICO™ Groundbreaking Scalable Fraud Technology

Payment Fraud Statistics - Where are we today?

  • Over 100 million stolen credit & debit cards and user profiles have been pumped into the payment ecosystem as a result of recent data breaches. Identity fraud is now hitting a new victim every 2 seconds! Every transaction needs to be assessed for risk even if it’s tied to a consumer with a clean purchase history.
  • According to ThreatMetrix: The Cost to E-Commerce from Credit Card Data Breaches Webinar, there were over 800 data breaches in 2013.  An average of 2.1 data breaches per day in 2013.
  • Europe and Canada experienced a 40 to 60% increase in online fraud when EMV was implemented. 
  • According to LexisNexis® 2013 True Cost of Fraud Study, Merchants paid more per dollar of fraud in 2013 as a result of an increased proportion of fraud through the online channel. Online-channel fraud costs merchants $3.10 for each dollar of fraud losses.
  • Merchants utilize an average of 5 separate paid tools and up to 15 free third party call-out tools to detect online fraud. And 1 out of every 4 transactions are deemed high-risk and set aside or pushed to an analyst for manual review. 75% are eventually accepted and 7% of manually reviewed transactions are false positives or inadvertent customer insults. 
  • Although chargebacks are the most often cited metric, merchants report that chargebacks account for only 43% of all fraud claims. Proactive refunding is taking place to resolve 57% of what they deem to be fraudulent claims. Online merchants only challenge 53% of chargebacks with a 43% average win rate.
Big Data and Mathematical Algorithms to Predict Consumer Behavior and Prevent Fraud

SecureBuy Powered with FICO™ is a complete automated end-to-end credit & debit card fraud prevention solution that has created a new payment industry performance benchmark for transparent payment authentication globally.

Cloud-based and integrated within the shopping cart or point-of-sale, SecureBuy Powered with FICO™ includes proven adaptive analytics, global intelligent profiling and a consortium data model originally created for issuing banks and currently used by 95% of U.S. card issuers and 65% of global card issuers. This portion of the technology is currently utilized in FICO Falcon® Fraud Manager, the world’s leading fraud management solution that already protects more than 2.5 billion payment cards worldwide.

SecureBuy's new dynamic, self-calibrating, neural network consortium data model combined with its powerful physical attribute authentication provides merchants the best transaction scoring available today. Any transaction exceeding a merchant's risk threshold prompts the consumer to authenticate via 3-D Secure with the cardholder's issuing bank providing the merchant a liability shift and interchange advantages. 

Included and optional technology is SecureBuy’s Terms and Conditions Manager and patented electronic handwritten signature technology that captures proof of purchase exactly as it was experienced. Stored in a PCI-compliant repository, the certified sales documentation provides the evidence to defend against 98% of chargebacks.

SecureBuy’s fraud prevention technology is the only integrated solution on the market with true risk-based authentication that is not issuing bank dependent. SecureBuy has created a frictionless consumer experience and eliminated the need for manual review of credit and debit transactions allowing fraud analysts to focus on the review of alternative payments.

SecureBuy’s Total Fraud Solution Includes:

  • Analytic Authentication Powered with FICO™
  • Risk-based Active 3-D Secure Authentication with 3DS Decision Engine
  • Terms & Conditions Manager
  • Biometric Signature Capture
  • Certified Forensic Signed Sale Receipt
  • TransExam Chargeback Management System
Analytic Authentication Powered with FICO™
Integrated within the shopping cart or point-of-sale, SecureBuy Powered with FICO™ brings ground-breaking analytic authentication to the shopping cart or point of sale. SecureBuy has created the cloud-based SaaS “ Analytic Authentication” platform by combining FICO’s proven adaptive card analytics, global intelligence profiling and consortium data model with its powerful physical attribute authentication. Self-calibrating with every transaction Analytic Authentication powered with FICO™ provides merchants the most advanced transaction scoring available today!  Any transaction exceeding the merchants pre-defined and alterable risk threshold is prompted and given the opportunity to authenticate via 3-D Secure directly with the cardholders issuing bank providing the merchant with real-time authentication and the opportunity for a shift in liability to the card issuer and an interchange advantage. >>Learn More
Risk-Based Active 3-D Secure Authentication (RBA)
When transactions cross your risk threshold, rather than going down the fast lane and checking out, the consumer is seamlessly presented with risk-based 3-D Secure authentication inline within your shopping cart. There are no pop-ups, no redirects, and they simply authenticate themselves directly with their own issuing bank. SecureBuy automates the entire process and eliminates manual review and the associated false positives or inadvertent customer insults that result from rejecting legitimate sales. >>Learn More
Terms and Conditions Manager – (included but optional)
According to the Consumer Financial Protection Bureau and Federal Trade Commission: having a check box, pop-up or a link to the T's & C's within the checkout just doesn't cut it anymore concerning abusive, deceptive, and unfair trade practices.  With SecureBuy, the consumer has the opportunity to review your terms and conditions placed inline within the shopping cart, and to sign the signature pad agreeing to the terms and conditions.  >> Learn More
Biometric Signature Capture – (included but optional)
SecureBuy’s patented biometric signature pad was created to stop the chargebacks, credits and refunds associated with friendly fraud/cybershoplifting. Signing online, on your smart phone, or tablet has been widely adopted as commonplace today.  There is a proven psychological connection between physically signing one's name as a means of certification and realizing evidence will be preserved. Utilizing human factors engineering, SecureBuy designed the biometric signature pad to mirror the look and feel of a typical card-present signature pad consumers use on a daily basis.  Consumers report an immediate trust factor and believe the merchant is deploying the security necessary to protect their financial information and their identity.  >> Learn More
Certified Forensic Signed Sales Receipt
SecureBuy's patent-pending screen scrape technology captures the entire purchase, including the customer's signature and the terms and conditions agreed upon at time of purchase. The signed sales receipt can be automatically included within your customers confirmation email. SecureBuy provides the indisputable proof of purchase (considered compelling evidence by the card brands recent rule changes) needed to defend against chargebacks. It's all the proof you need to protect your business from friendly fraud/Cybershoplifting™ 100% of the time.
TransExam Chargeback Management System
SecureBuy created the industry's first certified signed sales receipt/draft for online merchants. The sales receipt/draft is securely stored within TransExam, the first payment neutral chargeback management system. Merchants can now retrieve all necessary sales documentation to win payment disputes and retrieval requests. TransExam warehouses all sales drafts in accordance with all credit card company rules and regulations, PCI Compliance, Personal Information Protection Act (PIPA) and Electronic Documents Act standards.  >> Learn More
Build Trust & Loyalty with SecureBuy
SecureBuy's total fraud solution protects your consumers.  By actively authenticating suspicious transactions with 3-D Secure, providing inline terms and conditions and the ability to sign the biometric signature pad, consumers know you are providing the most advanced security available to protect their financial and personal information.

>> Contact SecureBuy

Press Release 4.22.2014

SecureBuy Webinar Reveals How Cyber Criminals Monetize Stolen IDs with Big Data

>> View Full Press Release

Do you really know what your consumers are asking for at the Point of Sale? Read the newly released data on the "Consumer's Perspective." Consumers listed their actual priorities. >> Learn More

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