May 21, 2021
21/05/2021
TAUNTON, SOMERSET
Cardstream, a global independent provider of white label partner-focused payment services, recently announced that it is partnering with Kount to deliver AI-driven integrated fraud protection solutions to its Open®Payment Network.
Financial crime and other forms of digital payment fraud have long been a pressing issue for financial institutions and payment acceptance companies. Recently, however, fraud threats have become more sophisticated and toxic to financial technology businesses like Cardstream and other global payment providers.
This is where Kount, the market leader in digital fraud prevention, comes into play with its Artificial Intelligence driven Fraud Protection solutions, which protect over 9000 global companies including Cardstream.
Kount offers a multitude of different fraud prevention solutions, including the Partner Central Solution, which is a platform designed to protect payment service providers and their merchants. Kount’s AI-Driven Fraud Protection model utilises two types of advanced Machine Learning (ML) AI to detect fraudulent patterns successfully. Based on its own data analysis learning, Kount’s two types of ML Models are:
Kount’s Omniscore scoring feature, a transaction safety rating, combines analytical elements of both supervised and unsupervised machine learning into one score. Using its universal data network comprising billions of historical and current transactions, Kount has created machine learning algorithms that any digital financial business can immediately rely on in its fight against fraud.
Brad Wiskirchen CEO of Kount says, “The eCommerce environment is rapidly growing and changing. Partnerships between payment service gateways and Kount bring together both stability and innovation to provide merchants with a powerful solution to combat emerging fraud strategies while providing a seamless payment experience for customers. By leaving fraud prevention and regulation management up to the experts, businesses can focus on what they do best.
About Kount:
Kount’s Identity Trust Global Network delivers real-time fraud prevention and account protection and enables personalised customer experiences for more than 9,000 leading brands and payment providers. Linked by Kount’s award-winning AI, the Identity Trust Global Network analyses signals from 32 billion annual interactions to personalise user experiences across the spectrum of trust—from frictionless experiences to blocking fraud. Quick and accurate identity trust decisions deliver safe payment, account creation, and login events while reducing digital fraud, chargebacks, false positives, and manual reviews.
About Cardstream:
Cardstream is a PCI DSS Level 1 compliant provider of payment solutions within a robust, flexible, and scalable payment infrastructure. Cardstream continues to build a global Open®Payment Network of more than 400 acquirers; alternative payment methods; shopping cart platforms; and fraud providers – all accessed via a single integration. Cardstream supports all worldwide currencies, all major card schemes and hundreds of APMs across the globe. The network is currently processing millions of transactions for hundreds of Reseller Partners and their thousands of Merchants. Cardstream’s Open®Payment Network is ideal for Acquirers; Payment Service Providers; Payment Facilitators; Independent Sales Organisations; Independent Software Vendors; and other Value-Added Service Providers.
For more information, visit www.cardstream.com or email press@cardstream.com
