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Online Payments

ProfitStars, ACH Alert to add new services to mitigate fraud losses

Wednesday 4 April 2012 | 11:38 AM CET

ProfitStars, a division of technology and payment processing services provider Jack Henry & Associates, has entered an agreement with fraud detection services provider ACH Alert.

As part of the deal, ProfitStars has added two new services, namely ACH C.O.P.S. and ACH A.L.E.R.T., to financial institutions using its ACH Client and Enterprise Payment Solutions (EPS) platform.

ACH C.O.P.S. offers systematic fraud detection to outbound ACH credit and wire entries by requiring transaction-level validation after transactions are received by the financial institution and prior to them being released to the respective payment network. ACH C.O.P.S. provides out-of-band authentication for ACH credit and wire transfers by requiring customer approval of all suspect ACH and wire transactions prior to transmission, preventing money from going to an account that is not preapproved by the originator.

Via ACH A.L.E.R.T. ProfitStars clients will gain control over ACH debit approvals. Financial institutions allow each customer to determine their own debit notification parameters, notification method and contact information as well as automate the return and re-credit process.
 

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