American Express buys Accertify to better fight fraud transactions

American Express agreed to acquire Accertify Inc, a leading provider of solutions to prevent online and other card-not-present fraud transactions. Launched in 2007 Accertify provides a hosted software application that offers an extra level of security for transactions over any of the major payment networks, including American Express, Visa, MasterCard, Discover, PayPal or any other alternative payment method.

With Accertify merchants can also outsource their end-to-end fraud management process. Clients who worked with Accertify have quickly achieved significant gains in the efficiency, accuracy and productivity of their fraud prevention efforts with reductions of 50% or more in their fraud losses and customer complaints due to fraud.

The acquisition of Accertify will enable American Express to expand its fraud prevention services to merchants for transactions that take place on all networks. Accertify’s capabilities will be incremental and complementary to what American Express offers merchants today.