Global Risk Technologies, a Dublin-based chargeback compliance company, has signed a strategic partnership with Quatrro Processing Inc, a fraud management technology firm. The firms say software is integrated with 24/7 human intelligence and surveillance, for managing risk within small and medium enterprise (SME) merchants, ISOs, PSPs and other payment service providers. The new service will it is claimed not only mitigate existing fraud, but proactively identify trends and pre-empt fraud before it occurs. This will not only help in fraud prevention and detection, according to the firms, but assist in safeguarding the reputation of merchants, aiding in a viable scoring matrix for issuers alike.
Gary Cardone, CEO of Global Risk Technologies, said: “We have always respected Quatrro, specifically their management team, tools, and philosophy. Our partnership will provide a much needed, comprehensive package to help not only diagnose, but treat the symptoms and origins of payment fraud, specifically focused on card-not-present activity. Much of the friction we are currently seeing as fraud claims grow can be directly related to industry overwhelm due to lacking infrastructure and merchant acumen. The benefit of our partnership will bring collaboration and integrated intelligence to help identify and reduce the negative impacts of fraud for issuers and merchants alike.”
And Raman Roy, Chairman of Quatrro said: “We are very excited to partner with Global Risk Technologies. We believe that the best approach to fraud prevention is through both technology and human intervention and this belief is endorsed by our partner as well. We are confident that together we can bring best-in-class practices and solutions with world-class technology to identify and prevent fraud, which is a major pain-point especially for smaller merchants. With this partnership, merchants of all sizes can depend on us for combating fraud while they continue to focus on rapid, risk-free revenue growth.”
