MetroBank S.A. and Accertify Announce Partnership To Fight Credit Card Fraud in Latin America

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Panama City, Panama, and Chicago, IL – Feb. 15, 2011 

MetroBank S.A.,  a leading Panama-based bank, and Accertify®, a leading provider of software, tools and strategies for preventing fraud, today announced a partnership to help merchants, banks and payment processors across Latin America combat credit card fraud.

Under the agreement, MetroBank will integrate the Interceptas® fraud prevention platform by Accertify, with its payment gateway, offering the platform to merchants, processors, card issuers and acquirers for both card-present and card-not-present transactions.

Founded in 1991, MetroBank offers a complete product platform in the areas of Private and Corporate banking.  The bank processes more than 1 million card transactions a month, serving 38 merchants in the retail, travel, telecommunications, technology, retail, health and professional services industries.

Accertify provides a software application that offers an extra level of security for transactions over any of the major payment networks, including American Express, Visa, MasterCard, Discover, PayPal or any other alternative payment method. Accertify also offers merchants the option to outsource their end-to-end fraud management process.  Many of its customers have quickly achieved significant gains in the efficiency, accuracy and productivity of their fraud prevention efforts with reductions of 50% or more in their fraud losses and customer complaints due to fraud. 

“We were seeking a partner to grow with us in Latin America and help us address the escalating issue of credit card fraud. After examining several key vendors in the marketplace, we selected Accertify as the most qualified,” said Gustavo Garcia de Paredes, Vice President of Technology and Business Development. “Accertify brings the experience and capability to quickly bring our merchant portfolio onto a best-in-class fraud prevention platform in a large-scale implementation. With its enterprise-wide transaction screening platform, multi-lingual capabilities that include Spanish and Portuguese, and 24/7 customer service, Accertify is well-positioned to assist merchants and financial service providers in Latin America in preventing credit card fraud.”    

“MetroBank is helping to lead the way in fighting payment fraud in Latin America,” said Eldred Garcia, Accertify Senior Vice President Business Development/Strategic Alliances in Latin America and Caribbean.  “Its integration of Interceptas for merchant accounts will provide a model for other financial services companies seeking to make state-of-the-art fraud prevention available to large groups of customers. We’re excited about our partnership with MetroBank and the opportunity it provides to further extend our fraud prevention capabilities across Latin America.”   

 

About MetroBank S.A.

Founded in 1991, MetroBank offers a complete product platform in the areas of Private and Corporate banking fulfilling all the needs of its demanding clientele. Short and medium term financing, both in the corporate as well as in the private sector, are some of MetroBank’s strengths, allowing it to help its clients and companies reach their goals and dreams.

 

About Accertify®

Accertify Inc., a wholly-owned subsidiary of American Express, based in Itasca, IL, is a leader in providing e-commerce companies with software, tools and strategies for preventing online fraud and mitigating enterprise-wide risks.  Its Interceptas® platform integrates every component of fraud prevention, applies state-of-the-art automation to each step in process and offers advanced capabilities for managing fraud data. Built with a merchant's perspective, Interceptas delivers flexibility in preventing various types of criminal behavior, including fraud related to card-not-present purchases, online scams and policy abuse, merchandise returns and exchanges and other data management challenges. Accertify is committed to providing online companies with the most cost-effective solution to fraud available. For more information, visit www.accertify.com.

 

Media Contact:

Carol Jouzaitis
Accertify Public Relations
312.342.7304
cjouzaitis@accertify.com

or

Eldred Garcia
Accertify, Inc.
SVP Business Development/Strategic Alliances – Latin America & Caribbean
305.671.3627
egarcia@accertify.com