Accertify® Receives Funding from Intel Capital
Santa Clara, CA - June 3, 2008
Accertify®, a provider of fraud prevention solutions to online retailers, announced today that it has received funding from Intel Capital, Intel's global investment organization.
Accertify will use the funds to expand its growing channel partners, marketing capabilities and continued focus on delivering Interceptas®, its innovative fraud platform, to leading e-commerce customers.
"E-commerce fraud costs U.S. retailers billions of dollars every year and the losses are growing by double-digit percentages," said Sean Cunningham, director, Strategic Investments, Intel Capital. "Our investment will help Accertify deliver the Interceptas platform to a global market base and improve the opportunity for Accertify customers to reduce the cost of online fraud."
"Accertify's integrated solution is the first to address the entire problem of card-not-present (CNP) fraud. Our approach combines the latest fraud-fighting automation, data and services to build and operate the defense merchants need to protect their businesses," said Jeff Liesendahl, CEO of Accertify. "This investment from Intel Capital has the potential to accelerate Accertify's success in the marketplace."
Accertify's Interceptas® solution is the industry's first and only end-to-end solution for combating CNP fraud.
Interceptas helps merchants reduce their total cost of fraud by simplifying and combining all processes and procedures for fighting fraud into a single, easy-to-use platform. Interceptas automates manual processes and provides unmatched features and functionality, enabling retailers to gain control of their transaction data and stay a step ahead of fraudsters. As a result, merchants are able to scale their e-commerce businesses without fear of fraud and maximize revenues through improved fraud detection, fewer rejections of valid transactions and reduced charge-backs.
Accertify, Inc. is the first company to focus on developing fraud prevention tools and strategies from the perspective of merchants that accept 'card not present' transactions. That focus led to the development of Interceptas®, which applies state of the art automation to every step in the merchant's process of managing credit card fraud exposure. Accertify exemplifies a constant commitment to maintaining the best in fraud prevention strategies, and its management team combines complementary skills from fraud management, business software development, accounting and legal to assure that its customers receive the most comprehensive, cost-effective solution to credit card fraud available.