SecureBuy® 2.0 - The Next Generation Fraud Technology
SecureBuy Addresses the Pain Points – Industry Statistics
As losses from payment fraud exceed $100+ billion annually, enterprise merchants currently utilize an average of 4.9 separate fraud tools to detect online fraud. One out of every four transactions are deemed high-risk and pushed to a fraud analyst for manual review. It takes on average 4 to 15 minutes to manually review a transaction and the associated labor costs are between $1.87 and $5.61 per transaction depending on the fraud analyst's proficiency. 52% of the typical annual fraud budget is spent on human capital for manual review staff, 29% on 3rd party tools and 19% is spent on internal tools and systems industry wide. The manual review process terminates an average of 7% of legitimate sales (inadvertent customer insults / false positives). Merchants commonly use refunds and credits (proactive refunding) to control chargeback percentages to stay within acceptable card brand rules and regulations.
Visa and MasterCard have advocated risk-based authentication (RBA) for years and with SecureBuy this landmark technology is now available. SecureBuy 2.0's proactive fraud solution is seamless to consumers and creates a fast lane passive authentication for normal and low-risk transactions and a risk-based active authentication lane for transactions with elevated risk levels. With SecureBuy 2.0, your suspect transactions automatically invoke active authentication inline within the checkout process completely seamless to your customers.
SecureBuy’s Total Fraud Solution Includes the Following:
- Passive Risk-Based Authentication
- Active Risk-Based Authentication
- Terms Conditions Manager
- Biometric Signature Capture
- Certified Forensic Signed Sale Receipt
- TransExam Chargeback Management System
Passive Risk-Based Authentication
SecureBuy's cloud-based passive authentication platform provides the most effective first perimeter of defense for transaction security from cybercrime. It executes immediately upon entry of the shopping cart prior to ringing the payment gateway register. The scoring engine provides a score and depending on the rules you have set, the transaction either moves into the fast lane or invokes active authentication instead of blocking or flagging the transaction for manual review. >>Learn More
Active Risk-Based Authentication
When transactions cross your risk threshold, rather than going down the fast lane and checking out the consumer would be presented with risk-based active authentication seamlessly within your shopping cart, 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)
A box to check, pop-up or a link to the T's & C's just doesn't cut it anymore according to the Consumer Financial Protection and Federal Trade Commission concerning abusive, deceptive and unfair trade practices. With SecureBuy, the consumer has the opportunity to review the merchants' terms and conditions placed inline within the shopping cart and to sign the signature pad agreeing to the terms and conditions.
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 and considered common place today. It’s a proven fact that there is a psychological connection when physically signing our name as a means of certification. There is a realization that evidence will be preserved. Utilizing human factors engineering, SecureBuy designed the online signature pad to mirror the look and feel of a typical card-present signature pad consumers use on a daily basis. Consumers are saying there is an immediate trust factor. They believe the merchant is protecting their identity. >> Learn More
Certified Forensic Signed Sales Receipt
SecureBuy's patent-pending screen scrape technology captures the entire purchase including the customers' 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 or compelling evidence needed for chargeback representments. It's all the proof you need to protect your business from Cybershoplifting™ 100% of the time.
SecureBuy's patent-pending screen scrape technology captures the entire purchase including the customers' 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 or compelling evidence needed for chargeback representments. It's all the proof you need to protect your business from Cybershoplifting™ 100% of the time.
TransExam Chargeback Management System
SecureBuy creates the industry's first card not present certified signed sales receipt / draft. 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, PIPA Personal Information Protection Act and Electronic Documents Act standards.
SecureBuy creates the industry's first card not present certified signed sales receipt / draft. 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, PIPA Personal Information Protection Act and Electronic Documents Act standards.
Costs Just Pennies per Transaction
Merchants of any size can afford SecureBuy's next generation fraud technology because it has the lowest cost of ownership of any fraud solution on the market. With no up-front costs, long-term contracts or monthly minimums, SecureBuy costs just pennies per transaction and provides the best fraud technology available today.
Merchants of any size can afford SecureBuy's next generation fraud technology because it has the lowest cost of ownership of any fraud solution on the market. With no up-front costs, long-term contracts or monthly minimums, SecureBuy costs just pennies per transaction and provides the best fraud technology available today.