Mexico's Mercadotecnia Ideas y
Tecnología Selects The 41st Parameter's Online Fraud Detection
Technology
MIT to Provide a Secure Platform for eCommerce Customers
Using Patent-Pending FraudNet™ Technology
SCOTTSDALE, AZ. – October 31, 2006 – The 41st
Parameter, a leader in agent-less, covert fraud detection and
prevention for the online channel, today announced that
Mercadotecnia Ideas y Tecnología (MIT), an eCommerce payments
gateway, has signed an agreement for a full deployment of its
proprietary FraudNet™ Internet fraud detection solution. MIT's
payment gateway supports online and phone sales transactions
for more than 30 merchants throughout Latin America including
major airlines with operations in México; Panasonic Mexico;
Cablevison; and eBay's Latin American partner, MercadoLibre.
MIT selected FraudNet for its payment gateway to demonstrate
the safety of online shopping to prospective merchants and
consumers in Mexico's growing eCommerce channel.
“FraudNet is uniquely designed to help us
mitigate online and telephone-based fraud and will be an
effective fraud detection tool as we continue to grow our
business,” said Juan Viramontes, chief executive officer, MIT.
“Creating a stable and secure eCommerce platform will give our
customers the confidence that their businesses and their
consumers are protected from fraudsters. With an advanced
infrastructure for combating Internet fraud, we're confident
we can help advance the adoption of eCommerce throughout
Mexico.”
FraudNet leverages several patent-pending
technologies to authenticate purchases and covertly combat
fraud. The technology is completely invisible to end users,
and requires no user enrollment or registration, nor does it
require the use of cookies, tags or software downloads.
FraudNet's EZKeys™ detects strings of keystrokes with low
typing effort; its DataSpider™ links seemingly unrelated
fraudulent orders based on common data elements; and TimeDiff
Linking™ detects repeat offenders from the same PC and quickly
contains threats posed to more than one transaction. Combined
to calculate more than 300 separate algorithms, the unique
technology in FraudNet has been proven to deliver
unprecedented accuracy rates in the risk management and fraud
detection industry.
“Mercadotecnia Ideas y Tecnología is taking a
progressive stand against fraud,” said Ori Eisen founder and
chairman, The 41st Parameter. “Our solution will help them
create a safe and secure multi-channel platform to make fraud
history globally.”
About The 41st Parameter
As the pioneer of covert, online fraud
detection and prevention technologies, The 41st Parameter
offers highly accurate, non-intrusive fraud control measures
for the online channel. By continuously collecting new and
unique parameters from end-user computers during online
account access, the Company’s patent-pending technologies
enable forensic identification of devices to monitor
suspicious or fraudulent account activity and help protect
sensitive customer data. The 41st Parameter’s products have
“zero imposition”, requiring no action or behavior change on
the part of the consumer. For more information, please visit
www.the41.com.
About Mercadotecnia Ideas y
Tecnología
As an innovator in the electronic payments and
processing space, MIT offers capable and interactive solutions
for both the physical and virtual sales channels. Based in
Mexico City, MIT is a privately owned company that processes
close to 85,000 transactions per month, serving clients in the
cable, insurance, retail and airline industries. For contact
information mail juan.viramontes@mitec.com.mx.
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All brands,
names, or trademarks mentioned in this document are the
property of their respective
owners.
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