IdentityMind Global has partnered with The Online Payment Exchange (ONPEX) to offer risk-managed payment platform for e-commerce and fintech firms to help them counter the rising instances of card-not-present (CNP) fraud.
The collaboration will offer customers of the two entities a single integration to manage credit card payments, fraud prevention, risk management and anti-money laundering compliance.
IdentityMind technology, which incorporates real-time and historical payment data, offers fraud prevention solutions, such as authorization codes, chargeback reason codes, CVV and AVS.
ONPEX’ cloud payment solution powers merchants, PSPs, ISOs, banks and acquirers in more than 90 nations. It clubs card processing with alternative payment methods on one omni-channel Platform as a Service (PaaS).
IdentityMind Global president and CEO Garrett Gafke said: "Online merchants, Payments, and FinTech companies need fraud prevention that can augment their sales and provide cross border payments, while still maintaining low chargebacks and operational expenses. Our clients see manual review rates between 3% and 5%, and decline rates between 1-3%- numbers that are far below industry averages.
"We are excited to partner with ONPEX, a solid, and award-winning white-label payment platform that focuses on simple, automated and transparent payments. ONPEX will help us deliver integrated payments into our Risk Management Platform."
ONPEX CEO Christoph Tutsch said: "IdentityMind is presenting the market with an innovative level of integration between payments and fraud prevention that will benefit our clients and merchants greatly. We are excited to be working closely with them as partners in this endeavor."
ONPEX said that with this collaboration, IdentityMind customers will be able to integrate both payments and fraud within the same interface.