Litle&Co Merges With ThreatMetrix – Why This is Good News for E-Commerce Merchants

Feb 18, 2014
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Many e-commerce merchants out there are likely to be very happy indeed after the announcement was made by Vantiv that Litle&Co is to merge with ThreatMetrix. For those of you who are wondering, Litle&Co is a leading e-commerce payment processor and is the favourite of millions. ThreatMetrix, on the other hand, is a popular and growing provider of cybercrime prevention solutions.

As well as merging with ThreatMetrix, Litle&Co are gradually adding more and more advanced tools for e-commerce merchants. This includes device fingerprinting, proxy and VPN detection, IP geo-location, and reputation scoring to detect and prevent emerging fraud attacks. These tools can help merchants to mitigate fraud, especially in card-not-present transactions. The cost and losses of fraud in 2012 to merchants reached a staggering $3.5 billion; it is in the wishes of Litle&Co and ThreatMetrix to reduce this significantly with their advanced tools. Bill Weingart, chief product officer at Vantiv, said, “We’re committed to providing our clients with the latest tools needed to execute a comprehensive fraud strategy. That’s why we enhanced our Fraud Toolkit with ThreatMetrix. Their continuing investment in product innovation and data infrastructure ensures that Litle and its clients can count on protection, not only from today’s threats, but also those that will emerge in the future.”

So, “what’s their secret?” we hear you ask. Although it sounds complex, the truth is actually pretty simple. ThreatMetrix works to correlate a visitor’s typical online behaviour through extensive data and analytics in the ThreatMetrix Global Trust Intelligence Network, or “The Network” as it is also known. Basically, the network provides merchants with an insight into their potential customers’ positive and negative online behaviour, regarding digital personas and previous online behaviours and transactions. It is this information that will help the merchant to authorize an online transaction. ThreatMetrix is essentially stopping cybercriminals in their tracks before they can do anything. With online fraudsters becoming increasingly intelligent as time goes on, e-commerce merchants are doing themselves a huge favour by using this innovative cybercrime prevention solution.

Bert Rankin, chief marketing officer at ThreatMetrix, says, “We are pleased that Litle chose to partner with ThreatMetrix in our continuing efforts to protect merchants against payment fraud. The dynamic and persistent nature of fraud, particularly in the CNP marketplace, makes agility and innovation imperative to its prevention. These shared values form the foundation of both of our companies’ cultures, and we are very excited about this partnership.” Clearly, the merging of Litle&Co and ThreatMetrix is fantastic news for e-commerce merchants across the globe. They have one aim in mind, and one aim only – to stop online fraudsters before they even have the chance.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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