RocketCash, CyberSource Team to Enable Teen E-Commerce
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Financial arrangements were not disclosed. In turning to CyberSource for real-time fraud protection, RocketCash said it is able to permit funding of new accounts through credit cards with substantially reduced fraud risk.
Launched in June 1999, the RocketCash service allows parents to set up controlled spending environments for their children on the Internet. Parents use their credit cards to fund their children's password-protected RocketCash accounts. The CyberSource Internet Fraud Screen automatically scans each of these initial funding transactions for signs of credit card fraud.
Once an account is funded with an approved parent credit card, the money is held with Chase Manhattan Bank and teens can buy at parent-approved, RocketCash-affiliated online merchants such as Amazon.com, MXG Online, Beyond.com and Pacific Sunwear.