First Atlantic Commerce Ltd. (FAC) has launched a suite of "card-not-present" consumer pre-authentication solutions aimed at reducing online payment fraud, enhancing real-time payment fraud reporting, and mitigating Internet payment related risks, for both bank acquirers and online businesses.

cGate® SecureRisk consists of a suite of services including North American Address Verification Services (AVS), Card Verification match checks (CVV2/CVC2), AMEX CID match checks, worldwide 3-D Secure™ solutions, IP Geolocation and Geocompliance services, and the company's newest product, cGate®Validate – a unique card account confirmation service that enables banks and businesses to validate the consumer is in possession of both the physical card, and the monthly billing statement, when an online account is established.

Cardholders would be required to verify the amount and billing statement description of a particular transaction amount and confirm the details at the participating merchant's web site, or customer service centre, in order to be confirmed as a legitimate cardholder.

"It's not just online businesses who are targets of cardholder credit card fraud. Banks, Card Associations, payment processors, Call Centres and any online financial services provider, are also prime targets to credit card fraud through skimming, phishing and identify theft scams," states Andrea Wilson, CEO, First Atlantic Commerce Ltd.

"In this day and age everyone needs to be far more pro-active in the pre-authentication of credit card transactions and/or consumers ahead of a fraud loss."