IdentityMind Global Announces IDMPay, a Risk-Managed Payment Gateway for Online Merchants and FinTech Companies
Palo Alto, Calif. (PRWEB) May 24, 2016 -- IdentityMind Global, pioneer of trusted digital identities for digital commerce, today announced IDMPay, a risk-managed payment processing solution that combines IdentityMind’s Trusted Digital Identities and fraud protection platform with an award-winning payment gateway.
The move to chip-based payment cards from magstripe-based cards has driven more fraud online. That is why experts project fraud losses to grow by 32% by 2018. With that in mind, IdentityMind launched IDMPay, a risk-managed payment solution that provides:
• Industry-leading fraud protection platform that delivers chargeback rates, on average, 66% lower than the industry average
• Easy customization that empowers merchants with control and visibility into policies and strategies to maximize acceptance rates
• Streamlined onboarding process through a single application for underwriting, and a unified API for payment gateway and fraud management
• Cost-effective operations through hosted payment pages offering payment tokenization
“Many of our clients came to us because they were caught unprepared. And, that means paying an average of $3.34 for every dollar of fraud. IDMPay was designed to remove fraud as a drag on the bottom line,” said Garrett Gafke, president and CEO of IdentityMind Global. “IDMPay is a single solution for fraud management and payment processing that allows merchants to combines rapid merchant account onboarding and easy integration with payment flow to ensure merchants have the proper tools in place quickly that fit their needs.”
IDMPay offers online merchants a full range of capabilities for managing account approval, payment processing, risk mitigation and chargeback reporting. IDMPay delivers full control for the lifecycle of merchant accounts. IDMPay tackles the complexities of managing risk due to demands for cross border payments, provide services for underbanked and unbanked demographics, and explosive growth of mobile payments. Key features of IDMPay include:
• A secure payment gateway supporting credit card processing, ACH, and alternative payment methods
• Top-of-line fraud prevention solution for ecommerce including: digital identities reputation, mobile security, identity verification, IP geolocation, device fingerprinting, phone verification, out of wallet questions, document verification, social network analysis, OFAC, and other sanctions screening
• Simple integration to get customer up and running in few days
• Card tokenization to ease the PCI burden
• Chargeback prevention and proactive refunding
• Operations platform for risk analysts with on-demand tools to facilitate manual reviews
• Customizable fraud prevention gateway tools, with specialized capabilities for mobile fraud prevention
• Payment acceptance in 63 countries
• API-based transaction gateway for easy integration
• Full online reporting tools and transaction analysis with API reporting
• Off-the-shelf support for shopping carts
For additional information about IDMPay: http://www.identitymindglobal.com/idmpay
About IdentityMind Global
IdentityMind Global™ pioneered trusted digital identities for digital commerce. The IdentityMind™ on-demand platform provides real-time risk management for leading Fintech companies, traditional banks and online merchants around the world. Using its innovative, Electronic DNA (eDNA™) technology, it securely tracks the entities involved in each transaction (e.g. consumers, merchants, cardholders, payment wallets, alternative payment methods, etc.) to build payment reputations, and allows companies to identity and reduce potential fraud, evaluate merchant account applications, onboard accounts, enablie identity verification services, and identify potential money laundering. For more information, visit http://www.identitymindglobal.com.
Jose Caldera, IdentityMind Global, http://IdentityMindGlobal.com, +1 (650) 618-9980, [email protected]
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