FutureBazaar Fights Online Fraud With CyberSource

CyberSource Ltd., the UK-based CyberSource subsidiary has announced that FutureBazaar India Ltd, the online shopping portal of Pantaloon Retail, has selected its Decision Manager anti-fraud solution. Using Decision Manager, FutureBazaar can now access over 150 global validation tests to screen for fraud and determine in real time whether online transactions should be accepted, rejected, or marked for further review.

Virendra Chhatbar, chief finance officer at FutureBazaar, said, “As eCommerce continues its rapid growth in India, retailers large and small must be increasingly vigilant to the threat of fraud. CyberSource’s proven risk management solution gives us that greater level of intelligence. CyberSource has considerable experience working in the Indian online environment, a factor that strongly influenced our decision.”

Decision Manager’s fraud evaluations, drawn from over 150 order validation tests, take place within seconds and are based on business rules determined by FutureBazaar. The rules can be updated at any time through an easy-to-use online interface. This flexibility enables FutureBazaar to continually adapt its fraud screening strategies to changing marketplace realities. Decision Manager includes sophisticated case management systems and process analytics to help further address the accuracy and efficiency of the fraud management process.

Dr. Akif Khan, head of U.K. client and technical services at CyberSource Ltd., said, “Fraud patterns vary from region to region and even country to country. Online merchants need to alter their rules to accommodate these variances or they are likely to allow unacceptable levels of fraud and deny too many good orders. We believe our experience working in India allows us to more effectively recommend screening practices to optimise online performance in that region. We are building on our work with companies like FutureBazaar to deliver the highest standards of payment and risk management throughout Asia.”