Not sure about the rest of you but this one took me by surprise. Accertify was sold to Amex for $150 million. That is 50% more than Feedburner was sold to Google. Way to go Accertify. Not bad for another Chicago startup flying below the radar! (and another group of Orbitz alum hitting it big)
CHICAGO, IL, November 4, 2010 – American Express today announced it has agreed to acquire Accertify Inc., a leading provider of solutions that help merchants combat fraudulent online and other card-not-present transactions.
Launched in 2007, Accertify provides a hosted software application that offers an extra level of security for transactions over any of the major payment networks, including American Express, Visa, MasterCard, Discover, PayPal or any other alternative payment method. Accertify also offers merchants the option to outsource their end-to-end fraud management process. Many of its customers have quickly achieved significant gains in the efficiency, accuracy and productivity of their fraud prevention efforts with reductions of 50% or more in their fraud losses and customer complaints due to fraud.
American Express currently provides fraud prevention tools such as Electronic Verification, Enhanced Authorization and Charge Verification. These tools help merchants to evaluate the potential risk of e-commerce and card-not-present transactions on the American Express network. With the acquisition of Accertify, American Express will be able to broaden its fraud prevention services to merchants for transactions that take place on all networks. Accertify’s capabilities will be incremental and complementary to what American Express offers merchants today.
See the rest of the press release at https://www.accertify.com/shownews.php?id=133 ;
