SAN FRANCISCO, Nov. 3, 2016 /PRNewswire/ -- Recurly, Inc., the enterprise-grade subscription management platform, today unveiled Recurly Fraud Management which provides automated, streamlined tools to protect revenue by minimizing chargebacks, prevent e-commerce fraud and deter the creation of unauthorized accounts. These threats, if left unchecked, decrease revenue and profits, increase operating costs, and impact customer trust.
Credit card fraud in e-commerce channels continues to be a source of concern for subscription businesses. According to the 2016 Identity Fraud Study authored by Javelin Strategy and Research, new account fraud, or the creation of unauthorized accounts, more than doubled, increasing by 113 percent, and representing 20 percent of all fraud losses. Unauthorized accounts not only lead to lost revenue and costly chargebacks but can also negatively impact processing relationships with card issuers, gateways and merchant banks.
Unlike competitive subscription management offerings, Recurly's integrated fraud management capabilities reduce the complexity of combating fraud with 'set and forget' configuration options and customized rules. Powered by Kount, the industry-leading fraud prevention platform, Recurly Fraud Management improves fraud screening and eliminates the cost of manual reviews, lowering fraud losses and minimizing chargebacks. In addition, device fingerprinting, which identifies a transaction's originating device in real time, dramatically improves businesses' ability to catch and stop fraud.
"Recurly is committed to streamlining subscription management so our customers can establish lasting customer relationships and grow their businesses," said Dan Burkhart, chief executive officer, Recurly. "Providing an integrated fraud management solution helps our customers safeguard revenue, preserve their banking relationships and reduce costs, so they can focus on delighting their customers."
Subscription businesses can tailor Recurly Fraud Management to meet their unique business needs, setting configuration parameters to prevent transactions from specific high-risk geographies that result in higher fraud rates, for example, or to decline transactions based on velocity, such as multiple sign-up attempts with the same credit card. In addition, Recurly Fraud Management supports multiple gateways, providing businesses with a centralized solution within Recurly, eliminating the limits imposed by individual gateways.
Recurly Fraud Management is available immediately for Recurly Professional and Enterprise Plan customers. Visit https://recurly.com/fraud-management/ to find out more.
Recurly, Inc. delivers agile enterprise-grade subscription management to thousands of SaaS, media, mobile, consumer goods, productivity and publishing businesses worldwide. Businesses like AccuWeather, Sling Media, JibJab Media, Asana, HubSpot and Twitch.tv depend on Recurly's ability to cut through the complexity of subscription management to drive recurring revenue growth. Since its launch in 2010, Recurly has deployed subscription billing for thousands of companies in 32 countries, making it the most trusted pure-play provider of subscription management services. Recurly is PCI-DSS Level 1, SAS 70 / SSAE 16 Compliant. For more information, visit http://recurly.com.
Te Smith, Recurly
Ashley Dolezal, Zeno Group for Recurly
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SOURCE Recurly, Inc.