Offerpal Launches New Virtual Currency Anti-fraud System

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Fraud has always been one of the biggest challenges of any payment system online. In fact, just last month, even the Washington Post commented that amongst the chief security risks today were payments around virtual goods.

Given that many free-to-play MMOs and online games are based on virtual currency monetization, Offerpal, one of the leading monetization platforms for social apps and online games, is releasing a new automated fraud monitoring system called “OfferpalSECURE” to step up the fight back.

The goal of the system, like any anti-fraud service, is to reduce developer and consumer losses due to fraudulent payment activity. Offerpal says the new system, combined with data from Offerpal’s 200 million transactions to date and in-house fraud analyst staff, have reduced fraud rates for publishers by over 60%. Offerpal says the new system improves on previous versions by adding secure hash signatures, detection of irregular patterns in user behavior, and machine fingerprinting.

Marcus Eikenberry, Founder and CEO of TrustWho, estimates that fraud rates for online games that don’t even allow player-to-player transfers are around 10%. Virtual currency monetization platforms like Offerpal, Super Rewards, Peanut Labs, TrialPay, and others are continuing to work night and day to ensure that rates stay as low as possible to enable to space to continue to flourish.

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3 Responses to “Offerpal Launches New Virtual Currency Anti-fraud System”

  1. Chris says:

    Slapping a fancy name on some hash checks? Good stuff, Offerpal. I just read on a competitors blog that SuperRewards has been doing it for a long time aready: http://www.srpoints.com/blog/

  2. Jeremy says:

    Chris — I wish what SR says is true. If they’d really been monitoring for fraud all along then maybe they wouldn’t have had to take back revenues from me. I got an email from them a couple weeks ago saying they’d finally just caught up on looking at fraud and discovered a significant amount of it that they weren’t going to pay me for. Apparently they did this to all their developers. Needless to say, I’m now using Offerpal and Offerpal only.

  3. BiscuitAsylum says:

    Offerpal Media is being reported to the Dallas Police Depts Internet Fraud division as we speak.

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