Stop Mobile Payment Fraud in Its Tracks With iovation at The Prepaid Press Expo

PORTLAND, OR--(Marketwired - Aug 18, 2014) - iovation, the trusted source for mobile and online fraud prevention to safeguard businesses, will present on a mobile fraud panel at The Prepaid Press Expo in Las Vegas on Tuesday, August 19 at 3:30pm PDT. The expo is a trade event that focuses on the convergence of all prepaid products and services and takes place at the Planet Hollywood Resort & Casino. The panel "Stopping Mobile Fraud in its Tracks" is part of The Financial Mobility Summit -- a part of The Prepaid Press Expo's conference program -- which focuses on the unique intersection of prepaid mobile finance, payments, prepaid wireless and top-up.

Before prepaid providers and financial institutions commit to mobile payments and alternative financial services, they must be sure they can prevent and detect fraud. Jay Johns, iovation's Business Development Representative, will join a panel of experts to discuss what fraud detection tools exist and where the fraud prevention responsibilities fall. Johns will share how iovation's device reputation service, which shares the reputations of 2 billion devices and 18 million client-reported fraud experiences, is leveraged by global businesses to detect and stop mobile payment fraud.

"Every industry, including prepaid, continues to see growth in mobile usage," said Johns. "Online businesses are increasingly concerned about offering new services on mobile devices while minimizing the risk for fraud. This is precisely why we've invested in a mobile SDK that integrates device-based intelligence and security directly into mobile apps."

While nearly 25 percent of all 2014 transactions protected by iovation have come from mobile devices, looking at the prepaid industry alone, that percentage nearly doubles to 57 percent. Of prepaid mobile traffic, 67 percent originates from Android devices followed by 23 percent from iPhones. "Among our prepaid clients, identity theft continues to be the most reported fraud experience shared in our service, followed by online scams and solicitations," says Johns. "Knowing which devices have been associated with fraud is crucial since 80 percent of devices touching our prepaid clients' sites have been seen before by iovation."

Joining iovation on the mobile fraud panel will be Ben Katz of CARD.com, Mick Oppy of Vantiv, and Yair Cohen of NICE Actimize. Ben Jackson of Mercator Advisory Group will be moderating the discussion.

About iovation
iovation protects online businesses and their end users against fraud and abuse through a combination of advanced device identification, shared device reputation and real-time risk evaluation. More than 3,000 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation's database of Internet devices and the relationships between them to determine the level of risk associated with online transactions. The company's device reputation database is the world's largest, used to protect more than 10 million transactions and stop an average of 200,000 fraudulent activities every day. The world's foremost fraud experts share intelligence, cybercrime tips and online fraud prevention techniques in iovation's Fraud Force Community, an exclusive virtual crime-fighting network. For more information, visit www.iovation.com.