BillMyParents Uses ThreatMetrix to Stop Fraud While Facilitating and Protecting Teen Online Spending

  

Leading Online Teen Payments Solution Is Able to Take More Orders With Less Friction While Determining Who Is and Who Isn't a Fraud Threat

LOS ALTOS, CA--(Marketwire - April 29, 2010) -  ThreatMetrix™, a fast growing provider of fraud detection solutions that do not require personally identifiable information (PII), today announced that BillMyParents®, the online teen payment solutions division of Socialwise, Inc. (OTCBB: SCLW), is using the ThreatMetrix Fraud Network to control fraud.

BillMyParents provides innovative and simple payment solutions for teens and their parents. When using the Supervised Shopping™ program, teens safely shop online on partner retail sites and click on the BillMyParents payment button that appears next to each product or in the shopping cart. Selections are sent right away by email to parents, who can easily manage and approve requests. The system ensures security of private financial data, and parents will soon be able to choose to deposit allowance-like spending amounts in advance for teens' use.

Prior to kicking off a national marketing campaign to promote the BillMyParents solution -- that featured teen spokespersons Ryan Sheckler, 2010 Nickelodeon Kids Choice Awards Favorite Male Athlete; professional skateboard and MTV reality show Fantasy Factor Rob Dyrdek; and professional motocross racer and four-time Rally America champion Travis Pastrana -- the company felt that it needed to be proactive and vigilant in protecting itself and its customers against the potential for fraud.

"In our beta testing prior to our national rollout, we saw a range of fraud scenarios from professional fraudsters using stolen credit cards to kids going wild with a card that was approved by a parent," said Jim Collas, president and CEO, Socialwise. "While we were able to catch these instances through manual intervention in our beta testing, we knew that approach would not scale in a full production environment. Since BillMyParents can reside in many different online environments and payment processes, we felt that we needed to make sure that we had the right tools in place to combat online fraud. After an internal evaluation of competitive fraud solutions, we chose the ThreatMetrix Fraud Network." 

According to Collas, it took them less than one week for BillMyParents to get up and running with the ThreatMetrix Fraud Network. "ThreatMetrix' customer implementation team helped us build rules and set scores to trigger which transactions were legitimate, which ones were fraudulent, and which ones should be placed in a fraud review queue for further evaluation."

"We really like the ThreatMetrix Fraud Network's ability to quickly and easily create custom fields that are specific to our business," continued Collas. "After implementation, we saw some additional things we wanted to put in place and were able to do so in a matter of minutes, not hours or days. ThreatMetrix saves us time and money by addressing all three of the major web fraud scenarios -- verifying new accounts, authorizing payments and transactions, and authorizing user logins -- in one solution."

"With ThreatMetrix, we get a holistic picture on fraud," continued Collas. "ThreatMetrix doesn't just give us an accept or reject recommendation. Instead, it tells me which rules fired. That makes it easy for us to go in and review any order and determine whether it is legitimate or fraudulent."

"Threat Metrix helps us in three major ways," said Collas. "First, from an overall ROI perspective, we don't have to eat fraud. Secondly, we are able to take more orders with less friction because we are more accurate in determining who is and who isn't a fraud threat. Finally, ThreatMetrix enables us to automate our order processing requiring fewer people to manage fraud."

To view a video of how the ThreatMetrix Fraud Network helps payment processors go to:http://threatmetrix.com/resource-center/videos-and-demos/threatmetrix-solutions-for-payment-processors/.

To read a whitepaper on the ThreatMetrix Fraud Network, go to:http://info.threatmetrix.com/ThreatMetrix-fraud-network.html.

About BillMyParents

BillMyParents provides payment solutions targeted to young people between the ages of 8 and 21. Their solutions facilitate communication between parents and young people and help teach financial responsibility. For more information, visit www.billmyparents.com.

BillMyParents Uses ThreatMetrix to Stop Fraud While Facilitating and Protecting Teen Online Spending

  

Leading Online Teen Payments Solution Is Able to Take More Orders With Less Friction While Determining Who Is and Who Isn't a Fraud Threat

LOS ALTOS, CA--(Marketwire - April 29, 2010) -  ThreatMetrix™, a fast growing provider of fraud detection solutions that do not require personally identifiable information (PII), today announced that BillMyParents®, the online teen payment solutions division of Socialwise, Inc. (OTCBB: SCLW), is using the ThreatMetrix Fraud Network to control fraud.

BillMyParents provides innovative and simple payment solutions for teens and their parents. When using the Supervised Shopping™ program, teens safely shop online on partner retail sites and click on the BillMyParents payment button that appears next to each product or in the shopping cart. Selections are sent right away by email to parents, who can easily manage and approve requests. The system ensures security of private financial data, and parents will soon be able to choose to deposit allowance-like spending amounts in advance for teens' use.

Prior to kicking off a national marketing campaign to promote the BillMyParents solution -- that featured teen spokespersons Ryan Sheckler, 2010 Nickelodeon Kids Choice Awards Favorite Male Athlete; professional skateboard and MTV reality show Fantasy Factor Rob Dyrdek; and professional motocross racer and four-time Rally America champion Travis Pastrana -- the company felt that it needed to be proactive and vigilant in protecting itself and its customers against the potential for fraud.

"In our beta testing prior to our national rollout, we saw a range of fraud scenarios from professional fraudsters using stolen credit cards to kids going wild with a card that was approved by a parent," said Jim Collas, president and CEO, Socialwise. "While we were able to catch these instances through manual intervention in our beta testing, we knew that approach would not scale in a full production environment. Since BillMyParents can reside in many different online environments and payment processes, we felt that we needed to make sure that we had the right tools in place to combat online fraud. After an internal evaluation of competitive fraud solutions, we chose the ThreatMetrix Fraud Network." 

According to Collas, it took them less than one week for BillMyParents to get up and running with the ThreatMetrix Fraud Network. "ThreatMetrix' customer implementation team helped us build rules and set scores to trigger which transactions were legitimate, which ones were fraudulent, and which ones should be placed in a fraud review queue for further evaluation."

"We really like the ThreatMetrix Fraud Network's ability to quickly and easily create custom fields that are specific to our business," continued Collas. "After implementation, we saw some additional things we wanted to put in place and were able to do so in a matter of minutes, not hours or days. ThreatMetrix saves us time and money by addressing all three of the major web fraud scenarios -- verifying new accounts, authorizing payments and transactions, and authorizing user logins -- in one solution."

"With ThreatMetrix, we get a holistic picture on fraud," continued Collas. "ThreatMetrix doesn't just give us an accept or reject recommendation. Instead, it tells me which rules fired. That makes it easy for us to go in and review any order and determine whether it is legitimate or fraudulent."

"Threat Metrix helps us in three major ways," said Collas. "First, from an overall ROI perspective, we don't have to eat fraud. Secondly, we are able to take more orders with less friction because we are more accurate in determining who is and who isn't a fraud threat. Finally, ThreatMetrix enables us to automate our order processing requiring fewer people to manage fraud."

To view a video of how the ThreatMetrix Fraud Network helps payment processors go to:http://threatmetrix.com/resource-center/videos-and-demos/threatmetrix-solutions-for-payment-processors/.

To read a whitepaper on the ThreatMetrix Fraud Network, go to:http://info.threatmetrix.com/ThreatMetrix-fraud-network.html.

About BillMyParents

BillMyParents provides payment solutions targeted to young people between the ages of 8 and 21. Their solutions facilitate communication between parents and young people and help teach financial responsibility. For more information, visit www.billmyparents.com.

Leading Online Loyalty Program Provider BigCrumbs.com Takes a Big Bite Out of Fraud With ThreatMetrix

  

Benefits Include Ensuring a Positive Customer Experience, Protecting Their Merchant Partners and Maintaining the Integrity of Their Loyalty Program

LOS ALTOS, CA--(Marketwire - April 22, 2010) -  ThreatMetrix™, a fast growing provider of fraud detection solutions that do not require personally identifiable information (PII), today announced that BigCrumbs.com, a leading free online loyalty program provider, has selected ThreatMetrix to control online fraud and abuse.

When a customer visits BigCrumbs.com before shopping online, and clicks their links to reach retailers, BigCrumbs.com is paid a commission by the merchants. BigCrumbs.com, in turn, passes this on to the customer in the form of cash back payments. The Atlanta-based company offers its free online loyalty program for popular online retailers including Target, Walmart, Best Buy, Gap, Nordstrom and HP. All totaled, BigCrumbs.com serves over 570 online retail partners and nearly 7,900 member stores, generating millions of dollars in revenue every month.

"With just one click, our program is designed to be easy to use by customers," said Vince Martin, CEO, BigCrumbs.com. "But it's that same ease of use that makes us susceptible to fraudsters who attempt to abuse our program with fraudulent credit cards or simulated online transactions. We could implement additional layers of costly and time-consuming protection that would require our members to do more to earn their rewards, but that would detract from an otherwise positive and frictionless experience that our members have come to expect."

"We were seeing a lot of instances of fraudsters using stolen credit cards or exploiting our merchant partners who did not have any real-time fraud protection in place which resulted in cash losses, lots of manual intervention and frequent conversations with merchants," continued Martin.

Today, using ThreatMetrix, BigCrumbs.com goes far beyond simple IP geolocation -- which can give false positives -- and is able to pierce the proxy to determine the true device identity and country of origination. "ThreatMetrix tells us whether we have seen a given device before, whether it has been involved in previous legitimate or fraudulent transactions, and whether we've seen multiple accounts opened, or attempted to be opened, using this device," said Martin. "And since implementing ThreatMetrix, we can now stop fraud before it occurs."

Martin likes the additional benefit of being part of a fraud network and knowing whether a device hitting BigCrumbs.com -- or any other ThreatMetrix customer's site utilizing the ThreatMetrix Fraud Network -- has a negative history associated with it.

"The key to our business success is providing our members with an easy-to-use program that provides big rewards, while protecting our merchants from fraud," said Martin. "The ThreatMetrix Fraud Network helps us do that while at the same time ensuring a positive customer experience and maintaining the integrity of our loyalty program. A better marketing experience for our merchants translates into a better experience and higher rewards for our customers. In that scenario, everybody wins."

To view a video on the ThreatMetrix Fraud Network, visit: http://threatmetrix.com/resource-center/videos-and-demos/introducing-the-threatmetrix-fraud-network/

To read a whitepaper on the ThreatMetrix Fraud Network, visit:http://info.threatmetrix.com/ThreatMetrix-fraud-network.html

About BigCrumbs.com

 BigCrumbs.com is the rewards website that offers some of the highest overall cash back offers for over 570 popular retailers, including eBay. The free service allows members to receive cash back by merely clicking through the website's links to reach their favorite retailers. BigCrumbs combines its cash back rewards with thousands of coupon codes and discounts for even deeper discounts. BigCrumbs.com also offers a powerful referral program, which provides its members a low-cost way to increase their income.

BigCrumbs can be reached online at www.bigcrumbs.com.

About ThreatMetrix ThreatMetrix helps companies stop web fraud and enable e-commerce. The ThreatMetrix Fraud Network helps online businesses verify new accounts, authorize payments and transactions and authenticate user logins in real-time without relying on personally identifiable information (PII). ThreatMetrix profiles the device used in an online transaction so companies can determine whether the users are fraudsters or customers. ThreatMetrix device profiling goes beyond browser fingerprinting to identify the device, bypass proxies and detect the use of botnets. ThreatMetrix' simple and cost-effective SaaS approach to implementation enables companies to get results in hours or days, rather than weeks or months. The company serves a rapidly growing customer base in the U.S. and around the world across a variety of industries including social networks (dating, gaming), financial services, e-commerce, affiliate marketing and payments. For more information, visit www.threatmetrix.com or call 1-650-625-1451.

Leading Online Loyalty Program Provider BigCrumbs.com Takes a Big Bite Out of Fraud With ThreatMetrix

  

Benefits Include Ensuring a Positive Customer Experience, Protecting Their Merchant Partners and Maintaining the Integrity of Their Loyalty Program

LOS ALTOS, CA--(Marketwire - April 22, 2010) -  ThreatMetrix™, a fast growing provider of fraud detection solutions that do not require personally identifiable information (PII), today announced that BigCrumbs.com, a leading free online loyalty program provider, has selected ThreatMetrix to control online fraud and abuse.

When a customer visits BigCrumbs.com before shopping online, and clicks their links to reach retailers, BigCrumbs.com is paid a commission by the merchants. BigCrumbs.com, in turn, passes this on to the customer in the form of cash back payments. The Atlanta-based company offers its free online loyalty program for popular online retailers including Target, Walmart, Best Buy, Gap, Nordstrom and HP. All totaled, BigCrumbs.com serves over 570 online retail partners and nearly 7,900 member stores, generating millions of dollars in revenue every month.

"With just one click, our program is designed to be easy to use by customers," said Vince Martin, CEO, BigCrumbs.com. "But it's that same ease of use that makes us susceptible to fraudsters who attempt to abuse our program with fraudulent credit cards or simulated online transactions. We could implement additional layers of costly and time-consuming protection that would require our members to do more to earn their rewards, but that would detract from an otherwise positive and frictionless experience that our members have come to expect."

"We were seeing a lot of instances of fraudsters using stolen credit cards or exploiting our merchant partners who did not have any real-time fraud protection in place which resulted in cash losses, lots of manual intervention and frequent conversations with merchants," continued Martin.

Today, using ThreatMetrix, BigCrumbs.com goes far beyond simple IP geolocation -- which can give false positives -- and is able to pierce the proxy to determine the true device identity and country of origination. "ThreatMetrix tells us whether we have seen a given device before, whether it has been involved in previous legitimate or fraudulent transactions, and whether we've seen multiple accounts opened, or attempted to be opened, using this device," said Martin. "And since implementing ThreatMetrix, we can now stop fraud before it occurs."

Martin likes the additional benefit of being part of a fraud network and knowing whether a device hitting BigCrumbs.com -- or any other ThreatMetrix customer's site utilizing the ThreatMetrix Fraud Network -- has a negative history associated with it.

"The key to our business success is providing our members with an easy-to-use program that provides big rewards, while protecting our merchants from fraud," said Martin. "The ThreatMetrix Fraud Network helps us do that while at the same time ensuring a positive customer experience and maintaining the integrity of our loyalty program. A better marketing experience for our merchants translates into a better experience and higher rewards for our customers. In that scenario, everybody wins."

To view a video on the ThreatMetrix Fraud Network, visit: http://threatmetrix.com/resource-center/videos-and-demos/introducing-the-threatmetrix-fraud-network/

To read a whitepaper on the ThreatMetrix Fraud Network, visit:http://info.threatmetrix.com/ThreatMetrix-fraud-network.html

About BigCrumbs.com

 BigCrumbs.com is the rewards website that offers some of the highest overall cash back offers for over 570 popular retailers, including eBay. The free service allows members to receive cash back by merely clicking through the website's links to reach their favorite retailers. BigCrumbs combines its cash back rewards with thousands of coupon codes and discounts for even deeper discounts. BigCrumbs.com also offers a powerful referral program, which provides its members a low-cost way to increase their income.

BigCrumbs can be reached online at www.bigcrumbs.com.

About ThreatMetrix ThreatMetrix helps companies stop web fraud and enable e-commerce. The ThreatMetrix Fraud Network helps online businesses verify new accounts, authorize payments and transactions and authenticate user logins in real-time without relying on personally identifiable information (PII). ThreatMetrix profiles the device used in an online transaction so companies can determine whether the users are fraudsters or customers. ThreatMetrix device profiling goes beyond browser fingerprinting to identify the device, bypass proxies and detect the use of botnets. ThreatMetrix' simple and cost-effective SaaS approach to implementation enables companies to get results in hours or days, rather than weeks or months. The company serves a rapidly growing customer base in the U.S. and around the world across a variety of industries including social networks (dating, gaming), financial services, e-commerce, affiliate marketing and payments. For more information, visit www.threatmetrix.com or call 1-650-625-1451.