According to Business Wire, in the strategy to combat fraud American Express announced the acquisition of InAuth Inc., a leading provider of identification solutions for mobile devices, as well as intelligent solutions. InAuth technology uses some of the largest financial institutions, banks, payment processors and traders in order to reduce risks and to identify potential frauds using mobile devices.
Financial details were not disclosed.
As noted by American Express, buying InAuth complement and reinforce the company’s capabilities in the field of analytical data processing and fraud prevention, which allowed it to reach its lowest level of fraud in the industry.
AXP shares close at $ 72.03 (+ 0.24%).
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