AlertPay, a Montreal-based secure online payment processing service for e-commerce sites said today that it has launched a real time security monitoring platform named “FraudMatrix”. The company reports that its new platform is more than just a monitoring system, the technology learns and adapts to patterns which enables it to instantly identify suspicious activity.
President and CEO of AlertPay, Firoz Patel has indicated that AlertPay persistently monitors websites and user activity through its propriety monitoring software along with leveraging the industry leaders in persistent monitoring services.
“We have vast experience throughout the e-commerce universe, our expertise, built-in monitoring and screening tools; make us a leader in e-commerce and security. A few years ago, cookies and IP’s were enough to combat fraud. Now it takes an arsenal of tools that are ever evolving, which is why, beyond our continuous improvements in compliance, risk and fraud prevention measures, we are pleased to announce these enhancements to our platform.”
Mr. Patel said that with nearly 7.7 million members conducting payment transactions through their AlertPay accounts worldwide, AlertPay’s monitoring system screens transactions in real-time detecting patterns and anomalies without impacting the user experience. When a transaction is flagged, AlertPay’s security team quickly reviews the transaction for suspicious activity.
For instance, AlertPay recently played a very active role with local authorities to track down distributors of child pornography. AlertPay regularly reports any and all suspicious cases to the relevant authorities such as Cybertip, Montreal Police, and the RCMP. The suspicious cases are never revealed to the public as they are often key facts in an ongoing investigation.
The company’s commitment extends to its support of organizations that are dedicated to the protection of children. Mr Patel concludes: “AlertPay is a company made up of 130 hard-working and dedicated employees; we have families and children of our own. We take special care in child protection and take to heart any role we can play in protecting children.”