Total System Services Inc.
) has joined forces with leading predictive analytics and
decision management software company - FICO - to offer secured
payment processing network in Brazil.
Accordingly, the alliance incorporates FICO Falcon Fraud
Manager software, version 6.3 to detect any fraudulent payments,
thus extending protection for more than 1.8 million cardholders
in Brazil. This new software will not only identify any sham
transaction but will also rectify the doubtful action, thereby
aiding smooth payment processes.
Boasting of reducing losses by over 50%, FICO Falcon Fraud
Manager has a global payment accounts base of more than 2.5
billion card accounts. Hence, this technology helps in reducing
operating costs, avoiding unpleasant customer experience and
enhancing a secured payment process.
Particularly, the deployment of this fraud detection software
in Brazil holds substantial significance given the fact that this
country suffers from immense losses due to frauds within credit
card payments. Brazil is ill-famed for having at least 1 fraud in
every 15 seconds. Credit card fraud losses totaled $500 million
in 2012 and further rose 2.4% year over year in the first five
months of 2013.
Naturally, an expert technical fraud prevention tool is the
need of the hour in Brazil. Identification of fraud transactions
as well as making amends to fill such loopholes scores wells for
Total System. Alongside, the card and digital payment industry is
also rapidly waking up to fight against fraudulent practices.
Given the hike in losses in the financial services industry
due to fraud, we believe that the alliance between Total System
and FICO has huge potential for secure and reliable money
management. Such high-grade technical practices also bode well
for long-term growth in Total System's card portfolio services,
the fruits of which are likely to be reflected in the financial
results of the upcoming quarters.
Along with Total System,
Official Payments Holdings
) carries a Zacks Rank #1 (Strong Buy). Other strong performers
in the financial sector include
), both of which carry a Zacks Rank #2 (Buy).
OFFICIAL PAYMNT (OPAY): Get Free Report
TOTAL SYS SVC (TSS): Free Stock Analysis
VISA INC-A (V): Free Stock Analysis Report
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