Global payment gateway BlueSnap announced that the company has enhanced its suite of fraud prevention services by partnering with Kount, a leading provider of fraud detection and sales boosting technology. BlueSnap will use Kount’s award-winning technology to help online sellers protect their revenue, defend their reputation and increase payment conversions when transacting in any of the 180 countries, 29 languages, 60 currencies and 110 payment types supported by BlueSnap.
According to the 2014 LexisNexis True Cost of FraudSM Study, international merchants lose an average 1.21% of revenue to fraud, and they pay $3.08 for each dollar of fraud losses. As the chosen payment gateway for international merchants, BlueSnap recognizes this problem and has aimed to make cross-border sales as safe as possible. To reduce fraud to a minimum – regardless of which payment options customers use – BlueSnap selected Kount to provide enhanced fraud prevention services.
Renowned for its proprietary technology and trusted by the world’s most well-known brands, Kount can analyze hundreds of data points per transaction and deliver a highly predictive fraud assessment within an average of 350 milliseconds. Thanks to this remarkable speed, Kount can identify and prevent payment fraud, account fraud and
account takeovers without slowing the transaction process. This means that merchants can defend against fraudsters without any negative effect on the checkout experience.
BlueSnap has combined Kount’s fraud prevention techniques with BlueSnap’s own repertoire of fraud prevention and security solutions, which includes tokenization, clientside encryption and card fingerprinting. Merchants can use Kount’s services regardless of whether they integrate with BlueSnap via an API and elect to use BlueSnap’s BuyNow Hosted Checkout pages. Both options protect customer payment information in transit and reduces the scope of PCI compliance.
“We know that fraud is a serious threat to online merchants, and we’re confident that Kount provides the most cutting edge fraud protection technology on the market,” said Bill Sobo, CFO and Global Head of Risk at BlueSnap. “Kount shares our mission to minimize ecommerce risks and maximize revenue for online merchants. We could not be more pleased to partner with them.”
“BlueSnap is unique in its ability to provide a localized checkout experience in almost every country in the world with higher conversions,” said Jack Alton SVP Sales at Kount. “With that reach, of course, comes additional fraud threats. We’re proud to have a fraud prevention technology that can vigilantly protect merchants no matter what country they sell in and no matter what payment options they use. We look forward to supporting BlueSnap and its customers.”
