German-Israeli payment intelligence company Fraugster has partnered with Payaut to offer fraud prevention services to marketplaces.
The rapid growth of ecommerce has brought with it further opportunities for fraudsters to strike which presents a clear challenge for marketplaces that want to ensure consumers and sellers are protected. Solutions like Fraugster’s Managed Services solution can help solve these challenges.
We look forward to working together with Fraugster to provide fraud prevention services to marketplaces. Instead of shopping around and contacting several different vendors, marketplaces can access all their fraud prevention needs via one vendor – Fraugster. Through a single integration, marketplaces can select from multiple solutions, including full chargeback protection, resulting in streamlining and simplifying fraud detection.
Ernst Van Niekerk, CEO, Payaut
In 2020, marketplaces accounted for 62 percent of global online consumer sales, according to Digital Commerce 360. The top 100 online marketplaces facilitated the sale of $2.67 trillion in gross merchandise last year. With increased sales, marketplaces face multiple fraud challenges with Chargebacks being a significant one, whether caused by true fraud or friendly fraud (AKA chargeback fraud). Fraugster’s Managed Services solution takes care of chargeback protection by providing a guarantee, AI data enrichment for accurate decisions, access to global sanctions lists through a single integration to protect against AML and fincrime, and overall fraud monitoring, while marketplaces can focus on time, resources, and investment in other crucial areas of their business while remaining secure.
The collaboration with Payaut is another step in successfully supporting the Marketplace ecosystem. With this partnership and our recent teaming up with German marketplace Refurbed, we are further extending our fraud prevention capabilities by providing flexible and scalable solutions for online marketplace platforms.
Christian Mangold,. Co-CEO, Fraugster