AsiaPay Launches PayAlert To Provide Advanced Online Fraud Detection

Makati (I-Newswire) February 19, 2012 - AsiaPay today announced the launch of ePayAlert, a comprehensive online fraud prevention service and solution suite for protecting banks, payment service providers, airlines, hotels, and merchants from the risks associated with card-not-present transactions. This advanced, highly customizable solution and service fully processes and checks online payment transactions with extensive use of dynamic rules with real-time fraud reporting and alert support.

Fraudulent credit card transactions have become a significant source of income loss to online businesses and with online spending on the rise, fraudulent activity is likely to continue to increase. Fraud losses not only affect the bottom line but also affect the future revenue of online businesses. This threat puts added pressure on companies to leverage a fraud review process that is fast, precise and keeps operating expenses in check.

“In today’s online retail environment, it’s imperative that businesses put into place user-friendly tools to effectively identify and mitigate online fraud to help protect both consumers and the organization’s reputation, and such protection can also be extended to the mobile payment environment,” said Joseph Chan, CEO of AsiaPay. “To address this need, we’re introducing a comprehensive online fraud solution and service which provides risk managers and analysts the ability to customize their own risk parameters, extend risk alerts via email or SMS, and download detailed reports and statistics with additional in-depth analysis thereby, allowing them to focus their attention on fraudulent transactions while fast-tracking valid orders through fulfilment.”

ePayAlert is being offered either as an online service, white-labelled hosted service, or as a total solution license model. The key features are:

 Data Format Checking – assesses customer information gathered against pre-determined rules
 Blacklist Control – verifies payment information against a comprehensive blacklist database and maintains these blacklisted data items
 Geographical Checking – cross-examines different geographical data identified in the transaction
 Velocity Checking – cross-examines velocity of the related data item in the transaction
 Transaction Limit Checking – validates limit control at bank/merchant level across different time periods
 Historical Negative Record Checking – validates payment transaction against historical payment and negative records
 Risk Scoring – applies real-time scoring of payment transaction with customizable rules and weights
 Real-time Alert – prompts merchants on suspicious payment transactions
 Real-time Reporting Console – enables merchants to access real-time fraud reports anytime

Moreover, it can be tailored to meet the specific fraud prevention needs of businesses of any size.

For more information on ePayAlert, visit www.epayalert.com.

About AsiaPay Payment Technology:
Founded in 2000, AsiaPay, a premier electronic payment solution and technology vendor and payment service provider, strives to bring advanced, secured, integrated, and cost-effective electronic payment processing solutions and services to banks, corporate and eBusinesses in the worldwide market, covering international credit card, debit card and other prepaid card payments. AsiaPay is an accredited payment processor and payment gateway solution vendor for banks, certified IPSP for merchants, certified international 3D-Secure vendor for Visa, MasterCard, American Express, and JCB. AsiaPay offers its variety of award-winning payment solutions that are multi-currency, multi-lingual, multi-card, and multi-channel together with its advanced fraud detection and management solutions. Headquartered in Hong Kong, AsiaPay offers its professional ePayment solution consultancy and quality local service support across its other 9 offices in Asia including: Thailand, Philippines, Singapore, Malaysia, Mainland China (3), Taiwan and Vietnam. For more information, please visit www.asiapay.com and www.paydollar.com.

Company Contact Information
AsiaPay Payment Technology
Rome Lopez
32C Rufino Pacific Tower
Ayala Ave.
1226
Phone : 6328870088