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Edgil Associates Inc. Upgrades its EdgCapture
Payment Processing Software
New Version Boosts Merchant Productivity While
Increasing Fraud Prevention Security Measures
North Chelmsford, MA, November 18, 2003
--Edgil Associates Inc., provider of electronic payment processing
systems to the publishing industry, announced the availability of
its latest version of EdgCapture with enhanced merchant security
features. With support for CVV2, CVC2 and CID security codes on
transactions with Visa, MC, and American Express Cards, EdgCapture
3.3 now allows merchants to greatly reduce costs from charge backs
due to fraudulent charges. Additional features of the new release
include updated reports that match bank account statements issued
by merchant banks, making periodic account reconciliation effortless.
Card security verification codes make up an authentication
scheme established by credit card companies to help reduce fraud
for “card not present” transactions. Cardholders are required
to enter the non-embossed 3- or 4-digit numeric code present only
on the credit card at transaction time to verify that the card is
on hand. The security code requires physical access to the credit
card thus reducing the risk of credit card fraud.
EdgCapture also supports the card networks’
Address Verification Service (AVS) for added fraud detection. AVS
works by comparing the purchaser’s address entered at the time
of a card not present transaction to the address on file with the
card issuer. EdgCapture submits AVS requests to the credit card
processor for address comparison and records the results, which
are available for the merchant to take immediate action or for later
review in a standard report.
The new bank reconciliation reports are formatted
to reflect the look of the merchant’s bank statement for easy
side-to-side comparison. All of the standard fields such as authorization
code, transaction type, and amount are included, minimizing the
time needed to reconcile bank statements.
“Part of the commitment to our valued customers
and the industry is ensuring that we remain current with the latest
electronic payment trends, technology and regulations”, said
Ed Hopey, President and CEO of Edgil. “The enhancements in
this latest release of EdgCapture help communicate this message.”
EdgCapture has evolved over the last 17 years
from a credit card processing application to an enterprise-wide
electronic payment processing platform capable of high-volume transaction
processing. Its client-server design allows for high scalability
to handle both smaller merchants and large multi-unit operations.
“The need for additional fraud detection/prevention
measures and increased productivity are two concerns all merchants
contend with on a daily basis,” said Rick Rollins, Director
of Product Management regarding the new release. “We expect
to continually evolve and enhance EdgCapture to address these and
other future payment processing issues.”
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