North American Bancard – a leading credit card processing and mobile payments solutions provider – is earning high praise in response to the efforts the company has taken this year to bolster consumer safety and fraud prevention.
“The commitment is setting a new standard and raising the bar for everyone,” Ian Hayes, a tech industry analyst and blogger covering mobile payments security observes. “And it comes at a time when consumers have never been so concerned with identity theft and credit card fraud.”
As MMW report last month, Alaric – a global supplier of fraud prevention and payments solutions – announced that North American Bancard has selected Alaric’s Fractals fraud prevention and detection product in what was described as “a competitive pitch for the merchant acquirer’s fraud and risk solution.”
According to details shared in the formal announcement, North American Bancard handles all areas of merchant payment processing, including credit, debit, EBT, check conversion and guarantee, and gift and loyalty cards, for more than 250,000 merchants across the US.
Not surprisingly, NAB makes use of a wide range of risk information sources. In this case, however, Alaric’s Fractals product enabled NAB to bring this information together in one place to make “intelligent fraud and risk decisions efficiently and accurately.”
Fractals is hailed as an intelligent fraud detection and prevention framework suitable for PSPs, online merchants, card issuers, acquirers and payments processors.
“We had stringent criteria when it came to selecting our new fraud and risk system,” said Aliki Liadis-Hall, director of compliance at North American Bancard. “We needed to be able to manage our fraud risk exposure across mobile POS, e-commerce and traditional retail channels with a single system.”