HMV selects CyberSource® for its Internet fraud solutions
CyberSource to provide HMV with its Internet Fraud Screen for purchases on HMV.co.uk
London May 16, 2000
CyberSource International Ltd, a wholly-owned subsidiary of CyberSource Corporation (Nasdaq: CYBS), a leading provider of outsourced, mission-critical e-commerce transaction services, today announced that it has signed a contract with HMV, the UK's premier retailer of music, videos and computer games, to provide its UK online retail site, HMV.co.uk, with the CyberSource Internet Fraud Screen v4.0.
The CyberSource Internet Fraud Screen will help protect HMV's online service against fraudulent credit card transactions by analysing risk factors, many of them unique to Internet commerce, and producing a risk score. Internet Fraud Screen's range of customer service tools will enable HMV to make rapid and informed risk management decisions on the risk of fraud associated with a transaction while significantly minimizing the "insult" rate involved when valid orders are turned down, helping HMV to maximize sales.
"We selected CyberSource to help protect our site from fraud because we were impressed by their proven experience and the reliability and scalability of their technology," says Stuart Rowe, e-commerce general manager at HMV. "We have a great service to offer and it is vital customers are comfortable throughout the checkout process."
Neil Cook, managing director, CyberSource Ltd, comments, "We have developed a system to reduce credit card fraud, which is why merchants like HMV have chosen the CyberSource Internet Fraud Screen. We are delighted to be working with them to help provide their online customers with a safe and efficient shopping experience."
CyberSource Internet Fraud Screen (v4.0)
Risk Profile Codes: CyberSource currently conducts 150 tests to analyse the risks associated with an online transaction, and returns a risk "score" to the merchant -- the higher the score, the greater the risk. CyberSource's new Risk Profile Codes are an augmentation to the CyberSource scoring process. These codes provide merchants with an insight into risk conditions for transactions and give them the results of the tests. This new ability empowers merchants to not only better understand why a particular order received a high score, but also to take the appropriate action to tune fraud scores -- thereby increasing the number of valid orders and decreasing the fraudulent ones.
The Risk Profile Codes consist of three distinct reply fields: Local Time, Host Severity, and Factors. Local time calculates the consumer's local time at the time of order and a predictive attribute. Host Severity represents the risk associated with a consumer's email domain. The Factors field provides merchants with the test categories that the particular order failed. Typical test categories may include: suspicious address information, extensive address or name changes, nonsensical input, etc. These fields will be provided for both accepted and declined transactions to maximize a merchant's ability to fine-tune the model.
Database Enhancements: In addition to customer service enhancements, database improvements have been made which can speed response time to Internet merchants up to 40 percent - enabling most risk scores to be calculated in one second. In turn, the online shopper will have a more enjoyable shopping experience as they make their purchases more quickly and easily.
About HMV
HMV UK is part of the HMV Group which operates 288 music and home entertainment stores in 9 territories across Europe, North America and the Pacific Rim.
With 112 stores, including a flagship store in London's Oxford Circus, and a transactional web site, HMV.co.uk, HMV is the UK's premier specialist retailer of music, videos and computer games. HMV's original Oxford Street store was opened in 1921 by Sir Edward Elgar, and its famous 'dog and trumpet' trademark is known throughout the world.
Editorial Contact:
Bruce Frymire
CyberSource Corporation
650.965.6042
bfrymire@cybersource.com
|
