Card-Not-Present (CNP) fraud has been increasing as the online transaction volume increases. It is estimated that the online payment fraud will reach $18 Billion in the US in the next three years. Out of this, only about 50% is blocked by current fraud detection techniques. The rest will be paid mainly by the online merchants.
Vality has developed a patented technology that has the capacity to significantly reduce the remaining fraud. That is because Vality Keyless Authentication technology is different than the data analytics approach used by current fraud reduction solutions.