Under the terms of the agreement, TSYS will deploy FICO Falcon Fraud Manager 6.3 version to secure payment transactions, resolve suspicious activity and comply with new payment standards.
Fraud in credit card is a growing problem in Brazil. There is one fraud attempt every 15 seconds and credit card fraud losses totaled USD 500 million in 2012. In addition, card fraud attempts have increased 2.4 percent in the first five months of 2013 over the same period in 2012.
TSYS focuses on financial institutions, businesses and governments in 80 countries and provides services and merchant payment acceptance for credit, debit, prepaid and healthcare.
FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, optimise operations and meet strict government regulations. FICO solutions leverage open-source standards and cloud computing.
In recent news, TSYS has inked a contract with FICO to integrate the latter’s fraud management solution FICO Falcon Fraud Manager 6 with its PRIME card and merchant management solution.
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