New York City-based card issuer American Express has integrated its fraud prevention solution with three services used by merchants to identify and prevent e-commerce fraud. The company said its Enhanced Authorization solution will now be part of antifraud solutions from Accertify (which is owned by American Express), Microsoft and Riskified. The API connections will add an additional layer of protection for merchants, which typically do not have access to authentication information from issuers.
“The best way to drive fraud out of the digital payments ecosystem is for merchants and card issuers to share enhanced transaction details with each other at the moment an online purchase is happening,” said Tina Eide, senior vice president of Global Fraud Risk at American Express. “Our partnerships with Accertify, Microsoft and Riskified expand the reach of our Enhanced Authorization solution to online merchants big and small, helping us to instantly identify and block fraudulent purchases. Working together to fight fraud benefits everyone.”
Enhanced Authorization is a service American Express offers to merchants the company says will result in increased approval rates, reduced false positives, and fraud reduction of up to 60 percent.