TSYS, FICO Partner to Help Prevent Card Fraud in Brazil
TSYS (NYSE: TSS), a leading global payments solution provider, and FICO (NYSE: FICO), a leading predictive analytics and decision management software company, announced today that they will protect more than 1.8 million cardholders in Brazil using FICO^® Falcon^® Fraud Manager. TSYS will deploy FICO Falcon Fraud Manager version 6.3 to deliver safer payment transactions, swiftly resolve suspicious activity and comply with new payment standards.
Fraud in credit card is a growing problem in Brazil. There is one fraud attempt every 15 seconds, and credit card fraud losses totaled US$500 million in 2012. In addition, card fraud attempts rose 2.4 percent in the first five months of 2013 over the same period in 2012.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.