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LAS VEGAS – MONEY 20/20 (October 26, 2015) — Sage North America, a leading provider of business management software and services to small and medium businesses (SMBs), today announced its payments division, Sage Payment Solutions, has partnered with Kount, a leading innovator of fraud solutions in risk management, to develop and bring to market new solutions to enhance fraud detection for small and medium businesses.
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Card-not-present fraud – that is, fraud that occurs when the cardholder and card are not physically present when the transaction takes place – is expected to grow exponentially. Research and advisory firm Aite Group predicts the U.S. growth for card-not-present fraud will more than double by 2018.
"While EMV is a major step forward, it was really designed to prevent card-present fraud," said Paul Bridgewater, CEO of Sage Payment Solutions. "With tokenization, the trend in Canada and Europe — where they experienced a significant shift from card-present fraud to card-not-present fraud — isn't expected to repeat itself in the U.S. That said, fraudsters will continually evolve, and this unique offering will provide another line of defense for small and medium businesses. Sage wants to help ensure companies doing business online and over the phone are protected."
Small and medium businesses can feel the sting of just one fraudulent transaction. By working with Kount, Sage will allow small and medium businesses to set just the right amount of fraud protection that fits their business and growth objectives."
"Sage is harnessing the power of Kount Central, so the same fraud detection capabilities employed by large enterprises are available to the small and medium businesses served by Sage," said Jack Alton, senior vice president of sales at Kount. "When online businesses use our advanced fraud protection services, they can be more certain they're engaging legitimate customers and deflecting fraudsters and can confidently grow and expand into new markets. Each organization can tune its fraud detection rules and responses to get the specific level of protection that's right for them, while not blocking customers from doing business with them."
Kount helps online businesses boost sales by reducing fraud and allowing them to accept more orders. Sage is reimagining business, giving small and medium businesses around the world the information, insight and tools they need to grow and thrive. Sage Payment Solutions provides complete and secure payment options to allow small and medium businesses to manage the movement of money — to seamlessly get paid, make payments and manage their money.
Sage energizes the success of businesses and their communities around the world through the use of smart technology and the imagination of our people. Sage has reimagined business and brings energy, experience and technology to inspire our customers to fulfill their dreams. We work with a thriving community of entrepreneurs, business owners, tradespeople, accountants, partners and developers who drive the global economy. Sage is a FTSE 100 company with 14,000 employees in 24 countries. For more information, visit visit www.sage.com.
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Cynthia Sutton Sage 571-213-0401 Cynthia.Sutton@Sage.com