30.03.2005 15:16:00
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Authorize.Net Offers Free Trial of its Industry Leading Fraud Detectio
Business Editors/High-Tech Writers
BURLINGTON, Mass.--(BUSINESS WIRE)--March 30, 2005--Authorize.Net Corporation, a service of Lightbridge, Inc., (NASDAQ: LTBG), today announced that it will begin offering a free month--with no setup fee--of its industry leading Fraud Detection Suite(TM) (FDS) to all merchants conducting e-commerce transactions on the Authorize.Net Payment Gateway.
FDS is a set of customizable, rules-based transaction filters and tools that helps merchants identify, manage, and prevent suspicious and potentially costly fraudulent transactions. Merchants have the ability to customize filter settings to match their individual business needs and control how the payment gateway handles suspicious transactions, including the ability to hold a transaction for manual review.
"It has been a year since we initially launched our FDS service," said Roy Banks, president, Authorize.Net. "In that time, we have seen first-hand how merchants that use FDS benefit by reducing their risk while saving time and money when dealing with fraud. We've decided to make this compelling offer so additional merchants can take advantage of our fraud detection service and experience for themselves the direct and tangible benefits of its powerful filters and tools."
Specific FDS filters include:
-- | Suspicious Transaction Filter - Detects highly suspicious transactions using proprietary identification criteria and transaction behavior analysis. |
-- | Amount Filter - Allows merchants to set lower and upper transaction amount thresholds, restricting high-risk transactions often used to "test" the validity of credit card numbers. |
-- | Velocity Filter - Limits the total number of transactions received per hour, preventing high-volume attacks common with fraudulent transactions. |
-- | Shipping-Billing Mismatch Filter - Identifies high-risk transactions with different shipping and billing addresses, potentially indicating purchases made using a stolen credit card. |
-- | Transaction IP Velocity Filter - Identifies excessive transactions received from the same IP address per hour, isolating suspicious activity from a single source. |
-- | Authorized AIM IP Addresses - Allows merchants submitting Advanced Integration Method transactions to list server IP addresses that are authorized to submit transactions. |
-- | IP Address Blocking - Allows merchants to block transactions from IP addresses known to be used for fraudulent activity. |
"With FDS we have the peace of mind that when orders are approved, they are legitimate," stated Tracy Goodrum, co-owner of Sunflower Wrestling, an Authorize.Net merchant. "Before FDS, I was spending 75% of my time reviewing orders--now it's about 10%. We haven't processed a fraudulent transaction since we implemented the service. It's a great service."
About Authorize.Net (www.authorize.net)
Authorize.Net provides secure, reliable, Internet Protocol (IP) based payment gateway solutions that enable merchants to authorize, settle and manage electronic transactions anytime, anywhere, via Web sites, retail, mail order/telephone order (MOTO) call centers and on wireless devices. Authorize.Net is sold through an extensive network of reseller partners and leading financial institutions that offer its industry leading payment services to their merchant customers. Authorize.Net is a service of Lightbridge, Inc.
About Lightbridge (www.lightbridge.com)
Lightbridge, Inc. (NASDAQ:LTBG) is a leading analytics, decisioning and e-commerce company that businesses trust to manage customer transactions. Lightbridge adds value to fraud screening, credit qualification, payment authorization, billing, and enhanced voice services. Lightbridge solutions leverage intelligent automated systems and human expertise, delivered primarily through the efficiencies and cost savings of an outsourced business model. Businesses around the world use Lightbridge to make smarter decisions, deliver better services, provide secure payments, reduce costs and enhance the lifetime value of their customers. For more information, visit www.lightbridge.com or call 800-LIGHTBR.
About Sunflower Wrestling (www.sunflowerwrestling.com)
Sunflower Wrestling, based in Wellington, KS was founded in 1996 by owner, Darin Goodrum; a former collegiate wrestler and coach. Goodrum recognized a demand for high quality wrestling gear and apparel that can be delivered at reasonable prices and with high quality customer service to wrestlers, coaches and officials worldwide. Sunflower Wrestling has developed relationships with the top suppliers in wrestling shoes, singlets, and gear such as adidas, Brute, Asics, Cliff Keen, Matman and many more.
AUTHORIZE.NET, LIGHTBRIDGE, and the Lightbridge logo are registered trademarks of Lightbridge, Inc. All other marks are the property of their respective owners.
Forward-looking Statements
Certain statements in this news release that are not historical facts, including, without limitation, those relating to the Company's partnerships, products, services, trial offerings, services markets and growth prospects and successes are forward-looking statements that involve risks and uncertainties. Such statements are based upon the current Authorize.Net's beliefs and expectations of the management of the Company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, (i) dependence on a limited number of clients, (ii) the Company's revenue concentration in the wireless telecommunications business and the declining subscriber growth rate in that business, (iii) continuing rapid change in the telecommunications industry and payment processing industries, and other markets in which the Company does business that may affect both the Company and its clients, (iv) the impact of competitive products, services and pricing on both the Company and its products and services, (v) market acceptance of the Company's new or enhanced products, services and technologies, (vi) the industry risks associated with Authorize.Net's business and operations including, without limitation, illegal or improper uses of Authorize.Net's payment system, unauthorized intrusions or attacks on Authorize.Net's payment system that may impair the operations of its payment system, changes or failures to comply with credit card association rules, governmental regulation and the application of existing laws to Authorize.Net's business and dependence on relationships with a third party payment processors, and (vii) factors disclosed in the Company's filings with the U.S. Securities and Exchange Commission including, without limitation, its 2004 Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q. The Company undertakes no obligation to update any forward-looking statements.
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CONTACT: Authorize.Net David Schwartz, 425-586-6039 or Lightbridge, Inc. Lynn Ricci, 781-359-4854 lricci@lightbridge.com
KEYWORD: MASSACHUSETTS INDUSTRY KEYWORD: HARDWARE SOFTWARE BANKING INTERNET E-COMMERCE SOURCE: Authorize.Net Corporation
Copyright Business Wire 2005
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