Elavon, a payments firm owned by U.S. Bancorp, has teamed up with Featurespace to prevent fraud in online payments.
The move is aimed at meeting the norms of PSD2, which requires processors, merchants, and banks to boost the security of online payments.
Featurespace CEO Martina King said: “1.3 million customers worldwide rely on Elavon to safeguard their businesses. Working together means we will be staying one step ahead of criminals at all times.”
The partnership integrates Elavon’s 3DS service with Featurespace’s ARIC platform.
Leveraging machine learning transaction monitoring, ARIC develops real-time behavioural profiles for cardholders and merchants.
In order to combat fraud, Elavon intends to utilise the adaptive behavioural analytics.
Elavon Merchant Services EVP and general manager Hannah Fitzsimons said: “Elavon is delighted to work with Featurespace to bring top fraud prevention solutions to market to protect merchants and consumers.
“We are committed to developing the most innovative fraud and security solutions in the payments industry.”
Recent developments at Elavon
This May, Elavon partnered with Mastercard and Amadeus to offer a payments platform for Thai Airways.
In April, Elavon announced plans to offer payment services to Société Générale’s business clients in eight European countries.
In February, Canada Jetlines turned to Elavon for payments processing.
Earlier this year, Elavon snapped up integrated payment software provider CenPOS.