IdentityMind Global partners with ONPEX to offer Risk-Managed Payment Platform
Press Release: ONPEX partners with IdentityMind Global to offer risk-managed payment platform for e-Commerce and FinTech companies. Closely integrating payments and fraud prevention, the partnership will prepare online merchants for the rising CNP fraud rates due to EMV adoption and the expansion of FinTech payment models.
Palo Alto, USA, March 3, 2016 – IdentityMind Global, pioneer in digital identities for risk management and digital commerce, announced today a partnership with award-winning ONPEX, The Online Payment Exchange. The partnership will offer ONPEX and IdentityMind Global clients a single integration to manage credit card payments, fraud prevention, risk management and anti-money laundering compliance.
For years, IdentityMind technology has provided fraud prevention solutions that incorporate real-time and historical payment data (e.g. authorization codes, chargeback reason codes, CVV and AVS results) as part of the heuristics (advanced problem solving) and behavioral analysis at the forefront of the transaction evaluation. This has proven fundamental to detecting payment fraud, and the tighter the integration between the payment life cycle and risk assessment, the better the results.
To enhance its service offering, IndentityMind has chosen ONPEX as a key partner. ONPEX’ global, white-label cloud payment solution powers hundreds of merchants, PSPs, ISOs, banks and acquirers in over 90 countries. It combines card processing with alternative payment methods on one omni-channel Platform as a Service (PaaS) and helps accelerate international expansion and grow businesses. Now, these businesses will also benefit from IdentityMind Global’s security solutions.
“The adoption of EMV is visibly increasing rates of Card Not Present (CNP) fraud, and it’s going to get much worse before it ever gets better.” said Garrett Gafke, IdentityMind Global President and CEO. “Online merchants, Payments, and FinTech companies need fraud prevention that can augment their sales and provide cross border payments, while still maintaining low chargebacks and operational expenses. Our clients see manual review rates between 3% and 5%, and decline rates between 1-3%- numbers that are far below industry averages.”
“We are excited to partner with ONPEX, a solid, and award-winning white-label payment platform that focuses on simple, automated and transparent payments. ONPEX will help us deliver integrated payments into our Risk Management Platform”, said Gafke.
“Online merchants continually demand more sophisticated and integrated payment and risk management services”, said Christoph Tutsch, CEO of ONPEX. “IdentityMind is presenting the market with an innovative level of integration between payments and fraud prevention that will benefit our clients and merchants greatly. We are excited to be working closely with them as partners in this endeavor.”
In addition to the benefits above, with this new partnership, IdentityMind clients will now be able to integrate both payments and fraud within the same interface, reducing the cost and complexity of operationalizing both payments and fraud prevention.
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Notes to Editor
ONPEX helps businesses build their own financial services. We provide multi-currency IBAN accounts and acquiring powered by flexible, API-driven technology to create simple, compliant, and cost-efficient payment and banking solutions.
Marketing ONPEX email@example.com