American Express Co. has agreed to purchase security-technology provider Accertify Inc., the card brand announced Nov. 4. The companies expect to close the deal in the fourth quarter.

The acquisition of the 3-year-old company would give the company a fraud-management system that works across all major card brands, including Visa Inc., MasterCard Worldwide and Discover Financial Services. Accertify’s system also works with alternative payment providers, such as PayPal, which is owned by eBay Inc.

 “Merchants are interested in fraud tools that cover every aspect of the payment process, and we’re pleased that we will now be able to deliver an industry-leading solution to them,” Bill Glenn, president of American Express Global Merchant Services, said in a press release.

AmEx agreed to pay about $150 million for Itasca, Ill.-based Accertify, which it said would help it better serve its merchants.

What do you think about this? Send us your feedback. Click Here.

 

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry