Credit card fraud was becoming a costly issue for us,” said Derrick Morton, CEO of FlowPlay. ‘We were looking for an e-commerce provider that could combat this deception and Adyen offered a one-of-a-kind solution that was a step above other providers.
San Francisco, CA (PRWEB) October 12, 2010
At the Virtual Goods Summit 2010 West today, Adyen, a global Internet payment and e-commerce solutions provider, announces an enhanced comprehensive fraud tool with FlowPlay to help the social gaming company combat rising fraud within the e-commerce industry. Adyen’s real-time financial analytics and fully customizable solution will allow FlowPlay to identify deceitful and suspicious payment patterns and prevent fraud.
“As with many of our competitors in the social gaming industry, credit card fraud was becoming a costly issue for us,” said Derrick Morton, CEO of FlowPlay. ‘We were looking for an e-commerce provider that could combat this deception and Adyen offered a one-of-a-kind solution that was a step above the other e-commerce providers on the market. Adyen’s real-time transaction analytics, delivered to us the moment a transaction occurs, help us identify and track fraudulent payment patterns and customize our approval settings to prevent these transactions from occurring.”
FlowPlay, selected by TechCrunch as one of the ‘40 hottest start-ups in the world’ in 2007, is a Seattle-based software company that produces massive multiplayer online games, including ‘OurWorld,’ which has garnered popularity worldwide. The company sought out Adyen for its real-time transactional analysis and customization capabilities, which provide state-of-the art fraud detection.
Adyen’s real-time e-commerce consumer analytics offer FlowPlay the ability to identify fraudulent patterns of payment activity and set customized parameters for transactions. For example, FlowPlay can use the data to determine, among others, the likelihood that a transaction outside a specific range of a credit card holder’s home address is counterfeit; which, if any, payment options within a given country are rare enough to warrant suspicion; and, the threshold for payments originating from a specific IP address during a time frame, i.e. transaction velocity.
Credit card fraud is one of the leading causes of concerns for companies operating within the social gaming industry because of a heavy reliance on providing instant access and upgrades once a financial transaction is processed. Without real-time analytics like those Adyen provides, it could take days after a transaction has taken place to identify it as fraudulent. The ability to preventing the process from occurring in the first place is in high demand amongst social gamers worldwide; Adyen, however, remains one of the few viable solutions on the market.
“Beyond superior technology, Adyen prides itself on offering merchants the most secure, transparent and flexible payment solutions on the market,” said Peter Caparso, North American President of Adyen. “The success of companies like FlowPlay resides in their ability to tap into new markets, and that’s why fraud detection is so important. Our fully-customizable solution is perfect for them because they can use our tools and analytics to determine for themselves the strategy that is unique to their needs.”
Each member of Adyen’s management team boasts more than 12 years e-commerce experience and work very closely with their merchant base, like FlowPlay providing private consultation on the most effective payment options and strategies for entering any country’s market. In addition, the one-year, non-exclusive contract, an Adyen standard, provides FlowPlay with complete flexibility and includes no early termination fee.
Adyen is the preeminent provider of global Internet payment and e-commerce solutions for mid, large and enterprise e-commerce merchants. Adyen’s revolutionary Internet payment solution enables merchant to significantly increase online conversion by optimizing the online payment process. With a global customer base that numbers in the thousands, Adyen strives to provide its merchants the ultimate in new e-commerce payment technology coupled with real time access to their financial data. This “one-stop” solution can be implemented within days and provides companies global access to payment methods through one simple connection. To learn more, please go to http://www.adyen.com.
About FlowPlay, Inc.
FlowPlay is a developer of online entertainment products and technology founded in November 2006. The company aims to bring a bold new vision to casual gaming by creating community platforms where people of all ages can play games and be entertained together.