RIDGELAND, Miss., April 3, 2013 /PRNewswire/ -- SignatureLink has rebranded the company and changed its name to SecureBuy to more accurately reflect its revolutionary eFraud prevention technology. The company originally created and patented the first online biometric hand-written signature capture pad back in 2002. SecureBuy's product line has evolved into a full array of industry-leading fraud prevention / identity authentication applications for secure online and mobile commerce.
SecureBuy's proactive eFraud solution is seamless to consumers and creates a fast lane for normal and low-risk transactions and a risk-based authentication lane for transactions with elevated risk levels. The end result is the most efficient, automated solution in the industry that improves customer confidence, increases conversion rates and eliminates 93% of chargebacks.
"The tactical data now available concerning EVM implementation in Canada and Europe clearly indicates that an impending tidal wave of CNP fraud is headed to the United States. Merchant industry trade organizations are all in agreement that currently deployed technology and risk mitigation strategies are inadequate to deal with the influx of card-not-present fraud. SecureBuy has the solution," states James Packer, COO and General Counsel of SecureBuy.
"Card-not-present fraud jumped from 23% to 62% in the UK from 2000 to 2010. After 3D Secure was mandated in much of Europe, Asia and South America it was proven to reduce fraud by up to 40%. SecureBuy has re-engineered 3D Secure removing the pop-up window that caused abandonment and depending on the response code can reject a transaction unless the liability is truly shifted to the issuing bank," states Greg Wooten, CEO of SecureBuy. With as many as 9 million Americans having their identity stolen this past year, consumers are willing to do whatever it takes to protect their identity and are loyal to the merchants that are providing the necessary security.Enterprise merchants deploying SecureBuy 2.0 are cutting their total fraud budget by up to 75% and eradicating efraud. SecureBuy replaces the average 4 to 8 fraud screening tools (i.e. Accertify, Kount, iovation, Retail Decisions, 41 st Perameter, etc.) typically used by enterprise merchants. These fraud screening tools in general provide good technology but ALL require the manual review of transactions sacrificing the automation and scalability of eCommerce. SecureBuy's re-engineered 3D Secure protects online merchants and their loyal customers. About SecureBuy – A SignatureLink CompanySecureBuy is a wholly own subsidiary of SignatureLink, Inc. Founded in 2002, SecureBuy is an established eCommerce cyber-security technology company, a payment fraud prevention pioneer and leader. With a unifying focus on reducing the risk of eCommerce for customers, merchants and processors, SecureBuy solutions extend from payment fraud prevention to identity authentication and globally hosted real-time eCommerce cyber-security solutions.