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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