San Mateo, CA, October 01, 2013 --(PR.com
)-- CardFlo, the gift card-focused security company that provides services critical to preventing and detecting fraud and money laundering, has just announced its company launch. With a suite of offerings that strengthen clients’ gift card operations, CardFlo is the industry’s first full-service gift card security firm. The company’s site can be accessed at www.cardflo.com.
CardFlo is the only gift card fraud prevention solution that believes the industry is stronger when we fight fraud together. That’s why they built a suite of products that quickly and confidently identify gift card fraudsters before they act, and then alert everyone else in the network to keep them safe as well. Underpinned by their comprehensive database of gift card transactions and fraudulent behaviors and their sophisticated machine learning, their suite of products give you the information you need to protect your bottom line and to develop deeper relationships with your customers.
“We recognized that there was no one in the gift card space providing a centralized service to secure and protect business-issued currency,” said Dan Rogers, CEO of CardFlo and former CFO of Plastic Jungle. “CardFlo was created to sit in the center as a neutral body and to help the broader ecosystem manage fraud as well as self-police money laundering activities. We are thrilled to be providing the critical services that the industry has lacked in preventing and detecting fraud and money laundering.”
Dennis Tabuena, Sr. Architect, added, “Credit cards have had robust security systems in place for years, but gift cards have lacked the same kind of technological innovation and reliability. Now, with CardFlo using search technology and big data to eradicate the lack of transparency and enforce risk management, gift cards will be more easily managed for businesses and a more reliable form of alternative payment for customers.”
The gift card industry is a $110+ billion market, and it is estimated that by the year 2015, gift cards will grow to deliver $138 billion in sales, greatly in part to the rise of mobile and digital offerings in the space. The minds behind Plastic Jungle recognized the need for greater security and shut their consumer-facing doors in May in order to focus on creating stronger protections for businesses against fraud and money laundering.
The company’s entrance into gift card security marks the beginning of an effort to unite gift card buyers and sellers against the industry’s fraudsters. Visit www.cardflo.com to learn more about CardFlo and how the company is bringing customer and retailer confidence back to the gift card space.
CardFlo is the gift card fraud prevention solution that quickly and confidently identifies gift card fraudsters before they act. Underpinned by our comprehensive database of gift card transactions and fraudulent behaviors and our sophisticated machine learning, our suite of products give clients actionable information to help their bottom line and strengthen their customer relationships. Founded in Silicon Valley in 2013, CardFlo is led by a team of payments, financial services and gift card technology experts.