05/01/11 -
Ukash, the Global e-Money Network, Chooses iovation Fraud Protection
Ukash Joins Growing List of Marquee Financial Services Clients
using iovation ReputationManager 360
London - 4 January 2011 - iovation, the Device
Reputation Authority™ protecting online businesses from fraud and
abuse, today announced that Ukash, the world's largest e-money
network, has adopted iovation
ReputationManager 360 for global fraud protection across its
growing line of e-commerce payment services.
Through its ubiquitous single-use prepaid voucher, Ukash enables
consumers to convert their cash into electronic money which can
then be spent at participating merchants, reloaded into e-wallets
and prepaid cards or sent around the world. Ukash are constantly
innovating to broaden the utility of the voucher and now also offer
Ukash NEO - a virtual prepaid MasterCard which can only be obtained
with a Ukash voucher and allows consumers to spend at any website
accepting MasterCard.
"As the world's leading e-money network, it is essential that we
remain at the forefront of the fight against e-crime and money
laundering. To that end, it was a logical step to partner with
iovation, the world's device reputation leader," said Chief Risk
Officer, Stan Rubin. "As we continue to innovate our offering with
additional products through new channels in an ever-expanding
number of territories, iovation ReputationManager 360 will help
Ukash spot cyber criminals upfront."
iovation ReputationManager 360 is a comprehensive fraud
prevention solution that combines customizable business rules, risk
profiles, and the shared experiences of more than 2000 fraud
analysts from leading brands worldwide. The service helps online
businesses stop criminals before they have a chance to do damage to
their business and customers. More than 30 major financial
services firms use iovation's fraud protection service to gain
greater flexibility and control over the activity on their website
by incorporating deep intelligence about end-user devices,
associated accounts, and shared history.
"We are honored that iovation has been chosen to protect Ukash
e-commerce payment solutions," said iovation CEO and Founder, Greg
Pierson. "Ukash joins a growing group of the largest financial
services clients in the world that report and share their fraud and
abuse experiences. Together, we've created a collaborative
environment to mitigate risk and help make the Internet a safer
place to interact and do business."
About Ukash®
Ukash®, the global e-money network, enables consumers from
anywhere in the world to shop, pay and play online safely using
cash. Ukash is a secure payment method developed to protect
personal identity and financial information when making online
transactions; eliminating the threat of credit and debit card fraud
for consumers and repudiations and charge-backs for retailers.
Established in 2001 under the holding company Smart Voucher Ltd,
Ukash has grown to more than 420,000 physical points of purchase,
and is available in more than 50 countries around the world. In
2008, Ukash® established a strategic partnership with South African
payments giant Blue Label Telecoms - part owned by Microsoft - to
develop the brand's services.
Ukash® is regulated by the UK Financial Services Authority (FSA)
and operates as one of only a small number of Electronic Money
Institutions, a status that allows a single maximum online cash
payment transaction of up to £500/€750.
Uniquely numbered Ukash® vouchers are available through payment
terminals in retail outlets across Europe, South Africa, South
America, Canada and Australia and are also issued online from the
company's website in selected European territories.
The technology behind Ukash is protected by patents registered
across the Smart Voucher database and functionality and is, as
such, protected by Patent Law in all the major economies of the
world. Ukash® is a registered trademark of Smart Voucher Ltd.
For more information on where Ukash is issued please visit www.ukash.com/countries
and follow us on Twitter www.twitter.com/ukashbusiness
About iovation
iovation protects online businesses and their end users against
fraud and abuse through our industry-leading combination of shared
device reputation and real-time risk evaluation. iovation's
customers leverage the world's largest syndicated database of
Internet devices and relationships between them to determine the
level of risk associated with any type of online transaction.
Retail, financial services, social network, gaming and other
companies make real-time queries to iovation's knowledge base of
over 450 million devices from every country in the world. Every
day, iovation protects more than 5 million transactions and stops
over 100,000 fraud attempts. For more information, visit www.iovation.com.
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