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08/11/2010 -
American Express recently announced that it has acquired Accertify, a provider of fraud prevention services for e-commerce merchants."While we already provide innovative fraud services for American Express transactions, merchants increasingly want single source platforms to address all types of transactions, regardless of the payment brand. We understand merchants' payment needs on a broader scale, and we're building on our commitment to expand e-commerce solutions and value-added services," said Bill Glenn, the president of American Express global merchant services.
Accertify offers a hosted software application that provides extra payment processing security for transactions over the major payment networks and offers merchants end-to-end fraud management outsourcing. Earlier this year, Accertify opened a new operations center to meet the growing demand for its outsourced review service. Their services will be added to the fraud prevention tools that American Express currently provides for e-commerce and card-not-present transactions, including Electronic Verification, Enhanced Authorization and Charge Verifcation. With the addition of Accertify, American Express can now offer fraud prevention services across all networks.
The acquisition of Accertify is expected to close in the fourth quarter of 2010, for a purchase price of approximately $150 million. Jeff Liesendahl, co-founder and chief executive officer of Accertify, will remain president of the company.
