Tender Armor Announces CvvPlus - Strives to Reduce Fraudulent Activities
FREMONT, CA: Tender Armor, providers of Fraud prevention payment solution announces Cvv Plus, a payment card feature for the purpose of establishing the owners’ identity and to reduce the risk of fraudulent activities across financial institutions (FIs), reports Sean Michael Kerner for eWEEK.
CvvPlus is an easy-to-use, real-time, dual-factor, out-of-brand solution that prevents fraud occurrences. The main features of CvvPlus include: No special devices or cards required for cardholder authentication, PCI (Payment Card Industry) compliant, merchant compatible & seamless integration and price advantage compared to other fraud prevention solutions.
The CvvPlus provides one more layer of authentication to customers via text messages or an email, which needs an updation on a daily basis. This solution is implemented across all financial institutions (FIs), cardholders and merchants, requesting a security code namely CVV2 code, in order to complete the transaction process, thereby reducing fraud risk.
The benefits of CvvPlus are: Slash CNP (Card-Not-Present) charge off-losses, reduces administrative expenses, minimizes payment card issues, simple and secure electronic payment processing, cutting cardholder attrition, and avoiding costly reputational damage.
“Tender Armor addresses the heightened risk of online ecommerce and over the phone purchases, by offering cardholders, FIs, and merchants the security needed to stave off CNP Fraud. We offer a simple and secure transaction experience, which can be deployed on every card currently in consumer wallets,” says Madeline K. Aufseeser, CEO, and Tender Armor.