April 2017 – International payment processor, Maxpay, announced today that they have become a member of the Merchant Risk Council (MRC), the leading global trade association for eCommerce fraud and payment professionals.
Every second, 18 users become victims of payment fraud. This adds up to 556 million people per year. Fraud is the fastest growing problem for any online business.
The Merchant Risk Council (MRC) and Maxpay have worked together to create stronger connections between payment professionals and fight fraud in eCommerce payments.
Established in 2000, the MRC is the foremost global, non-profit organization that unites experts whose mission is to combat fraud with card not present (CNP) and payment spaces. For years MRC has been supporting and promoting better eCommerce solutions around the globe.
In 2010, the MRC started to build its community in Europe, and have grown to include over 450 member companies in more than 30 countries. MRC’s membership has grown to include almost 400 of the world’s most prominent merchant organizations, over 70 industry solution provider sponsor companies, and multiple law enforcement agencies in the United States and Europe.
Maxpay is an international processor which provides payment solutions and services for any type of online business. In March, 2017 the company launched its own fraud prevention solution – Covery.
Maxpay’s Covery brings together feature engineering, event chain analysis, rule engines and machine learning to help merchants fight fraud and lower operational overhead by up to 95%. Covery needs only 0.5 seconds to complete an analysis of a customer and decide to stop or accept a transaction. The solution is fully customizable and suitable for any industry, merchant business model or traffic source.
“Maxpay is thrilled to become a member of MRC. With the common goals of making eCommerce more efficacious, profitable and secure, Maxpay will be a strong asset to MRC. We look forward to our strategic collaboration with this global association,” said Artem Timoshenko, CEO of Maxpay.
“As the MRC continues to grow and flourish, we look forward to new ideas and contributions. Operational excellence for fraud, payments and risk professionals within eCommerce have always been the focus for MRC and the reason why we seek out members like Maxpay,” said Danielle Nagao, MRC CEO. “It is our goal to support and promote world experience exchange and to grow MRC’s members’ professional network and collaboration.”