ADVERTORIAL
BIZCHORD FRAUDHUNTER
This case study reviews the successful implementation of BIZCHORD’s FraudHunter,
by Cal International (Cal) as an online fraud prevention solution.
About CAL
Cal is a major issuer and acquirer of VISA, MasterCard
and Diners credit cards. An early supporter of e-
commerce, Cal also facilitates traditional as well as
online shopping based payment systems.
In meeting the growing demand for additional security
and flexibility in online shopping, Cal introduced to the
market a new payment method, the VISA virtual
prepaid card, a disposable Visa number, developed for
confident and secure shopping online, by mail order
or over the phone anywhere around the world where
Visa is accepted.
Acquired with a VISA, completely virtual, the card
allows users to apply for, receive and reload their VISA
virtual prepaid cards entirely online. This new
innovative payment method delivers the following
enhanced features:
• Safety and security with a limited card amount
• Confidentiality and discretion with no tracing of
online purchases
• Immediate availability to all VISA card holders
• Acceptability to wherever VISA cards are accepted
Cal’s challenge
The VISA virtual prepaid card was extremely popular • Reduce online fraud rates month fraud rates by August 2007. By November
and experienced wide global sales. However, it also • Reduce charge-back rates 2007 Cal recorded an 80% overall reduction in its
attracted an exceptionally high fraud rate. Cal was • Reduce online shopper rejection rates fraud rates.
thus faced with the challenge of reducing fraudulent • And as a result maximize their total sales revenues The positive results and confidence in FraudHunter
transactions while maintaining a first-rate level of have motivated Cal to accept wider global
customer satisfaction. FraudHunter implementation, approach and transactions. Commenting on FraudHunter, Cal’s Chief
After investigating possible solutions available features Credit Officer, Ms. Ronit Fruchtman, stated,
within the marketplace, Cal concluded that they Full implementation was achieved as a result of “FraudHunter has resulted in increased customer
required a comprehensive solution and innovative ongoing dynamic risk management, adaptations and conversions, improved our ROI, and confirmed our
approach, capable of withstanding multiple and adjustments. view that it stands alone in being able to deliver a
simultaneous fraudulent attacks by constantly By combining a strategic approach based on robust and comprehensive credit card fraud
mutating fraud techniques. Cal further concluded that analysis of fraud trends and (on-line/real-time) prevention solution.”
most current “solutions” were only able to focus on developments with a broad range of tactical fraud-
singular aspects within the broad prevention systems, FraudHunter was able to provide
BIZCHORD Technologies aspires to supply the
range of possible fraud techniques. Cal with the most comprehensive and complete online
security and quality of face to face transactions to
fraud prevention solution available by optimizing the
online commerce.
sales vs. fraud ratio to match maximum available
About BIZCHORD
In confronting the ever-evolving security threats
revenues.
to online transactions, BIZCHORD is committed to
BIZCHORD provides the online e-commerce industry
creating an e-commerce environment that is
with advanced security through efficient global The FraudHunter features include:
absolutely valued, trusted and secured.
payment processing and credit card fraud prevention • Real-time transaction scoring, monitoring and fraud
We understand that the full potential of
solutions. The BIZCHORD mission is to maximize alerts
e-commerce will only be realized through providing
online retailer revenues by facilitating a safe, simple • Weight based engines used in combination with
a face to face business-quality experience to online
and globally connected e-commerce business innovative data mining methodologies
transactions. We are uncompromising on this vision.
environment. • Adaptive machine learning algorithms
Armed with a shared understanding of our
To a large extent this is achieved by means of • High degree of customization and easy integration
objectives, and the finest human resources in the
BIZCHORD’s unique security methodology and through secured web services
field, BIZCHORD is the future, and the first name in
solution:
delivering advanced global payment processing and
The FRAUDHUNTER, is an advanced fraud
The results
credit card fraud-prevention solutions.
prevention technology. FraudHunter significantly IMMEDIATE BENEFITS
David Rich is VP of Sales at BIZCHORD Technologies
reduces losses to online credit card fraud, it is • Increased and measurable ROI as a result of wider
in Tel-Aviv, Israel, +972 3 769 6165,
highly customizable, and is easy to integrate. uptake of the VISA virtual prepaid card
david@bizchord.com www.bizchord.com
• Decreased fraud rates
Objectives of Cal selecting the BIZCHORD’s • Decreased online shopper rejections rates
FraudHunter solution
• Increase revenues by improving usability and THE NUMBERS
acceptance of the VISA virtual prepaid card Following implementation of FraudHunter in May
• Increase revenues by improving online conversions 2007, Cal had significantly reduced its month on
ISSUE 2 SEPTEMBER 2008 • 09
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