Braintree Introduces Fraud Screening for Small Merchants
Braintree Payment Solutions has unveiled an online payments security and fraud detection service geared toward small retailers. Braintree evaluates purchasing trends of its merchant clients to pinpoint signs of potentially fraudulent transactions. “Our goal is to provide startups everything they need to grow and scale, including fraud protection,” says Braintree CEO Bill Ready. He says 25 percent of the $10 billion in transactions Braintree processes each year occur outside of the United States, and the total represents more than $2 billion in mobile payments. Braintree is offering the payment security services at no extra charge to its clients who use the vendor’s payment processing services. Types of risky behavior identified by Braintree include multiple attempts to log on to pay with a customer’s stored payment card and transactions coming from Internet access devices flagged as being linked to prior fraudulent transactions. Ready notes that clients of Braintree’s customized risk management services can set different levels of risk tolerance based on the nature of their inventory and other factors.
From “Payments Processor Braintree Introduces Fraud Screening for Small Merchants”
Internet Retailer (09/12/13) Evans, Katie