SignatureLink is collaborating with ThreatMetrix to create a hybrid anti-fraud solution to combat traditional and ‘friendly’ online payment fraud. ‘Friendly fraud’ occurs when a consumer contends a charge for a transaction they’ve made, without valid reason, and makes a false claim to their bank/card issuer to refund the money. The new solution is based on integrating SignatureLink’s online ‘friendly fraud’ technology with ThreatMetrix’s multichannel Cybercrime Defender Platform.
SignatureLink’s technology, the cloud based CNPS/TransExam solution, enables merchants to record wet signatures and purchase agreements directly from the customer online. The technology then pulls the terms and conditions together into a single, time-stamped, legally binding document which merchants can provide as proof of purchase.
The hybrid solution will first become accessible during Q1 of this year through a partnership with USDT Corporation. CNPS/TransExam is being offered as an enterprise platform extension to over 100,000 merchants around the world and will be made available for purchase to card brands, payments processors, acquiring financial institutions, eCommerce platform providers and online merchants in Q2 of this year.
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