Internet transaction processor CyberSource Corp. yesterday introduced a new credit card payment process designed to combat fraud.
The CyberSource Smart Authorization from CyberSource, Mountain View, CA, combines a visual fraud-screening application and a credit card processing service into one tool.
The company said its service performs address validations, screens for obscenities and nonsensical names and cross-checks against merchant databases for bad addresses and credit card numbers.
Screening results are processed. One-word “approve” or “decline” recommendations are then returned to merchants.
“We’ve had a number of customers ask for a fraud screening service … because they experience significant levels of credit card fraud and don’t have … fraud management resources,” said Tracy Wilk, vice president of product management at CyberSource.
CyberSource contends that Smart Authorization is more advanced than the banking network’s Address Verification System and better prepared to combat credit card fraud, which the company claims will increase tenfold in the next four years.
Gift certificate and promotional incentive programs also are available through the service.