BillMyParents starts protecting clients payments with ThreatMetrix Fraud Network

As it was announced Thursday, BillMyParents, delivering innovative and simple payment solutions for teens and their parents, started utilizing ThreatMetrix Fraud Network targeting to control fraud.

BillMyParents felt the need of being proactive and vigilant in protecting itself and its customers against the potential for fraud. So, ThreatMetrix, that represents a fast growing provider of fraud detection solutions that do not require personally identifiable information, will ensure security of private financial data for BillMyParents payments, and parents will soon be able to choose to deposit allowance-like spending amounts in advance for teens' use.

In fact, it took BillMyParents less than one week to get up and running with the ThreatMetrix Fraud Network.

“Since BillMyParents can reside in many different online environments and payment processes, we felt that we needed to make sure that we had the right tools in place to combat online fraud, said Jim Collas, president and CEO, Socialwise, “After an internal evaluation of competitive fraud solutions, we chose the ThreatMetrix Fraud Network."

Besides, ThreatMetrix let the company save time and money by addressing all three of the major web fraud scenarios, verifying new accounts, authorizing payments and transactions, and authorizing user logins, in one solution.