SOURCE: The 41st Parameter

January 30, 2007 08:00 ET

2Checkout.com Renews Agreement for Internet Fraud Detection Solution From The 41st Parameter

FraudNet™ Drops Chargebacks by More Than 45 Percent With Accurate Detection of Fraudulent Orders

SCOTTSDALE, AZ -- (MARKET WIRE) -- January 30, 2007 -- The 41st Parameter, a leader in agent-less, covert fraud detection and prevention for the online channel, today announced that 2Checkout.com, Inc. (www.2Checkout.com), a worldwide eCommerce solution for more than 65,000 vendors featuring over 300,000 unique products and services, has renewed its contract for FraudNet™. The multi-year extension enables 2Checkout.com to continue using the patent-pending FraudNet solution to quickly detect Internet and eCommerce fraud while monitoring for evolving fraud trends that aid in future prevention. A customer since August 2005, 2Checkout.com has used FraudNet to help reduce chargebacks by more than 45 percent while also reducing the amount of investigator resources required to monitor orders and review suspect transactions.

"Detecting and preventing fraud before the products are delivered is critical for our business," said Kristin Dach, CFO at 2Checkout.com. "The FraudNet solution allows us to quickly glean a rich set of device data from every online website visitor and match the credentials and order information claimed to that data. This insight has helped our investigative team better pinpoint fraudulent orders while reviewing fewer transactions. In our business, that means new cost savings and efficiencies, and we can increase our focus on better serving our clients and helping to grow their online business."

2Checkout.com renewed its contract with The 41st Parameter based on the Company's unique ability to provide highly accurate device identification as well as the level of expertise and support it has experienced since first becoming a customer in 2005.

Used to collect a rich set of device data (more than 41 machine characteristics) during users' online interaction with the 2Checkout.com website, FraudNet calculates more than 300 separate algorithms to assess potential risk. The solution requires no action or enrollment from customers and is completely invisible to end users, so every website visitor is monitored and there is no impact on call centers or customer support. The FraudNet solution also does not "tag" website visitors with any software, cookies or other downloads, preventing perpetrators from reverse engineering the technology, and preventing problems when legitimate customers inadvertently delete or uninstall such tags.

"2Checkout.com has been at the forefront of our fight against online fraud for the past year and a half," said Ori Eisen, founder and chairman of The 41st Parameter. "We are excited they have experienced such dramatic results, and look forward to helping them further reduce losses and improve efficiencies as we continue making fraud history together."

For more information about The 41st Parameter's covert Internet fraud detection and prevention solutions, please send inquiry to info@the41.com.

About The 41st Parameter

As the pioneer of agent-less, covert online fraud detection and prevention technologies, The 41st Parameter offers highly accurate, non-intrusive fraud control measures for the online channel. By continuously collecting new and unique parameters from end-user computers during online account access, the Company's patent-pending technologies enable forensic identification of devices to monitor suspicious or fraudulent account activity and help protect sensitive customer data. The 41st Parameter's products have "zero imposition," requiring no action or behavior change on the part of the consumer. For more information, please visit www.the41.com.

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