U.S. Bancorp's payments unit Elavon has signed an agreement with 41st Parameter to provide the anti-fraud company's technology to Elavon's clients.
Elavon will offer FraudNet, a hosted fraud-prevention system from 41st Parameter. FraudNet is designed to detect fraud on ecommerce transactions at the point of payment.
"The relationship with 41st Parameter opens a new path for how the industry implements advanced global fraud protection services to help businesses optimize their bottom line," said James Ray, senior vice president of global strategic account management at Elavon, in a press release Oct. 18. "Elavon's global reach, local expertise and international processing platform, combined with 41st Parameter's FraudNet solution, will help our customers lower the total cost of acceptance and afford them the opportunity to focus on valuable initiatives that drive growth."