News

Pulse enhances fraud mitigation service

September 18, 2013

ATM and debit network Pulse has completed a major upgrade to its DebitProtect fraud mitigation service and introduced an optional fraud blocking service, the company said in an announcement. The system allows transaction blocking in real time, for a faster response to fraudulent activity on an account.

"This technology leap was necessary because fraud sophistication and speed are increasing, with fraud cycles becoming shorter, more varied and harder to detect," said George Danforth, Pulse vice president for emerging products. "DebitProtect uses unique Pulse data, scoring and analytics to monitor debit transactions at ATMs and the point of sale and adds an additional layer of fraud detection to those provided by processors and in-house systems."

DebitProtect operates in milliseconds, evaluating transactions in flight, detecting high-risk transactions and alerting card issuers in seconds, often before the cardholder has left the terminal, Pulse said. The company collaborated with Hewlett-Packard and Retail Decisions on the DebitProtect upgrade, deploying the ReD PRISM software solution on HP NonStop servers. 

FIs also can opt to use the Pulse DebitProtect Authorization Blocking service in order to detect, block and manage debit card fraud, the Pulse release said. The service includes real-time alerting, blocking and card autoblocking, plus a suite of services including expert fraud consultation, rules pretesting and analytics, and 24/7 service response. 

A further optional service offers development of custom rules specific to an FI's organization. 

The DebitProtect system and Authorization Blocking service includes a new web portal with features that facilitate the management of a comprehensive fraud mitigation program, Pulse said. Services are available to all institutions that participate in the Pulse network.

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