NorseCorp™ Launches Payment Gateway Designed To Prevent Fraud

ST. LOUIS, April 24, 2012 /PRNewswire/ -- NorseCorp, a provider of real-time Internet security intelligence services, today announced the launch of the nGate Payment Gateway, a versatile and full-featured payment gateway with proactive fraud prevention technology, offering merchants one of the strongest and most comprehensive payment processing offerings on the market today.

nGate represents a significant departure from traditional payment gateways that push fraud detection onto card processors, issuers and merchants. nGate incorporates NorseCorp's patent-pending IPViking™ technology to proactively identify and block fraudulent transactions before they occur, helping merchants save on transaction fees and avoid issuer penalties, while enabling acquiring organizations to recruit and retain merchants.

nGate offers, in a single gateway, the ability to process practically any type of transaction, including retail and online credit/debit cards, ACH and FSA/HSA transactions — eliminating the need for merchants to use multiple payment gateways. Merchants can initiate and manage credit card and other payment transactions at POS devices or a virtual terminal through nGate's intuitive web interface. nGate works with all of the major payment processors and more than 50 of the largest banks in the United States. 

Other innovative features available only with nGate include:

• QuickBooks Integration. Process credit cards and other payments directly through QuickBooks without manual imports with nGate's tightly integrated support.
• Master and Sub-Accounts. With nGate, a single gateway account supports your customer's entire business, including disparate retail and online operations.
• Secure Storage Vault. Eliminate PCI-compliance overhead by securely storing payment details with nGate's Secure Payment Profiles.

"nGate gives payment processors and ISOs a powerful weapon in the fight against customer churn and shrinking margins," said Skip Foss, chief product officer for NorseCorp. "By stopping the criminals in their tracks, we reduce fees and penalties for merchants. Groundbreaking features like QuickBooks integration and the ability to support the online and offline operations of a large merchant with a single account add even more value. The end result is a payment gateway that is simply unmatched in the market."

Available immediately to U.S.-based ISOs and processors, nGate is built on the Merchant Partners™ platform, one of the largest and most widely used payment gateways in the industry handling more than $3 billion dollars in monthly transaction volume. 

"There is nothing like nGate on the market today," said Doug Merryman, president and founder, Merchant Partners. "nGate integrates a best-in-class payment gateway with functionality that offers merchants a proactive and effective defense against fraud. With its proven technology, comprehensive features and broad transaction-type support, nGate can change the way merchants engage in e-commerce."

nGate is powered by NorseCorp's IPViking technology, which proactively monitors the Internet to identify cybercriminals and emerging threats in real-time. IPViking differs from other fraud-fighting technologies because it tracks cybercrime to the source. 

IPViking gathers intelligence on high-risk IP addresses using more than 6 million artificial intelligence (AI) agents, assessing the risk of every address behind a transaction or access request. IPViking uses that information, along with other factors, to create a risk score, or IPQ™, for every transaction. The IPQ score is reported back to nGate in less than 2 milliseconds, enabling IPViking to halt a suspect transaction before it can enter the card networks. The service can process up to 600,000 online transactions per second.

One Norse customer, PrismPay, reported a reduction in fraudulent chargebacks of 30 percent after using IPViking for six months. PrismPay provides gateway payment services to merchants and merchant acquirers, and processes 10 million transactions per month.

To learn more about the nGate Payment Gateway by NorseCorp, visit www.norse-ngate.com.

About NorseCorp
NorseCorp, headquartered in St. Louis, Missouri, is a provider of real-time internet security intelligence solutions aimed at making the internet safe for business. NorseCorp's patent-pending IPViking technology provides real-time intelligence about the risk of IP addresses attempting to engage in eCommerce, interact with a website or web application, or even transact business for small organizations or enterprises . The IPViking API runs over a cloud-based network, communicates with any programming language or platform, and easily integrates into existing IT environments. For more information about NorseCorp, visit www.norse-corp.com.

SOURCE NorseCorp