First Atlantic Commerce and Mercadotecnia Ideas y Tecnología join forces to reduce online credit card fraud in Mexico
FAC provides MITec with authenticationonly fraud management tools
Hamilton, Bermuda and Mexico City, Mexico. September 8, 2009. First Atlantic Commerce (FAC), a leading, international, multicurrency payment gateway and risk management solutions provider, and Mercadotecnia Ideas y Tecnología (MITec), a leading transactional gateway in Mexico, today announced their collaboration to fight online credit card fraud in Mexico.
FAC offers customized consumer authenticationonly risk solutions to merchants, acquiring banks and processors in the Latin American Caribbean Region, in addition to a full suite of other online risk solutions including North American Address Verification (AVS) services, CVV2/CVC2/CID validation and Consumer Credit Card verification services.
In a move to add value to their services and provide their clients with the best available technology, MITec has selected FAC for its worldclass online risk management solutions.
FAC is providing MITec with AVSonly services, which allows merchants to automatically screen by comparing the online billing address to the billing address attached to the cardholder’s credit card, and process transactions in realtime.
MITec is also using FAC’s 3D Secure™ only service, which is a fully compliant payer authentication solution for Verified by Visa and MasterCard®SecureCode™ designed to protect international online merchants from fraudulent transactions.
Gabriel Gomez, director of fraud prevention for MITec said: “FAC’s solutions are key in helping us to mitigate chargebacks and credit card fraud. We are now armed with incredible consumer authentication tools from FAC, which we have integrated into our fraud prevention services to help fight online credit card fraud.”
Added Christopher Burns, FAC’s VP of International Business Development: “We are excited to be a part of MITec’s online fraud prevention strategy. Our fraud management solutions are the ultimate in online protection and we look forward to a long and rewarding relationship with MITec.”
FAC’s online payment and risk mitigation solutions are compliant and PCI certified, and also available to banks and processors in other regions including Europe, CEMEA and Asia.
About First Atlantic Commerce
First Atlantic Commerce (FAC) is a leading Internet, multicurrency payment and fraud risk solutions provider. Headquartered in Bermuda, and established in 1998 to create secure cardbased payment solutions for ebusinesses, FAC’s cGate® technology offers service, flexibility and security to adapt to many business and bank acquirer requirements. FAC provides merchants with multicurrency payment solutions in addition to fraud and data management services including AVS, CVV2/CVC2/CID, 3D Secure™ and IP Geolocation in multiple jurisdictions across Europe, Asia and the Latin American Caribbean Region. For more information, please visit www.firstatlanticcommerce.com.
As an innovator in the electronic payments and processing space, MITec offers capable and interactive solutions for both the physical and virtual sales channels. Based in Mexico City, MITec is a privately owned company that processes close to 1,400,000 transactions per month, serving clients in the cable, insurance, retail and airline industries.
MITec is a leading transactional gateway in Mexico. The company provides specialized transactional services, from banks to retailers and interinstitutions, making a smooth technological connection between them allowing better payment solutions, customer services, information exchange and value added services based on marketing focus, client oriented philosophy and the best available technology. Additionally, MITec provides unique fraud prevention services in the local market.