International payment processing company, MasterCard Worldwide (MA - Free Report) entered into a partnership deal with Kount to receive more orders and enhance revenues. Kount is a leading fraud prevention and management technology provider that helps companies in fraud reduction.
Currently, e-commerce has led to a massive increase in online transactions globally. As with its increasing benefits, this has also brought adverse effects like fraudulent transactions and related cyber crime. The alliance aims at enabling merchants to combat e-commerce fraud and trim down the resulting losses.
Pursuant to the deal, MasterCard will allow Kount and its merchant clients to access its Expert Monitoring Fraud Scoring for Merchants. The Expert Monitoring Fraud Scoring for Merchants Application Programming Interface (“API”) is a tool that is responsible for detection and prevention of fraudulent purchases made online.
By using the API, merchants can obtain the Expert Monitoring System merchant fraud score which reveals the probability for a transaction to be fraudulent. This allows them to have a clearer idea regarding card behavior much beyond what the merchants can view by themselves. As a result, merchants can reduce the errors of accepting fraudulent transactions and rejecting valid ones.
Kount is the pioneering company that provided merchants with MasterCard Expert Monitoring API. Through the integration of the Expert Monitoring fraud score it now aims to enhance its merchant fraud prevention platform thereby enabling merchants to reduce the loss risk on account of fake online transactions. This will assist merchants to stay ahead in the race to deal with this cyber crime and acquire the potential to win.
MasterCard is working on its long-term growth strategy for eCommerce. Towards this end, MasterCard announced a Memorandum of Understanding (MoU) with China’s leading eCommerce giant Alibaba Group in Mar 2013. Moreover, the parties laid out other business-related issues that deal with mutual aid and collaboration as well as intellectual property violations.
MasterCard currently carries a Zacks Rank #3 (Hold). Among others in the industry, Vantiv Inc. carries a favorable Zacks Rank #1 (Strong Buy) while Visa Inc. (V - Free Report) and Fidelity National Information Services Inc. (FIS - Free Report) carry Zacks Rank #2 (Buy) and are worth considering.