Fraugster Partners with Payaut to Provide Fraud Prevention Services to e-Commerce Marketplaces

Member News
Friendly Fraud
News
Fraugster
Feb 22, 2022
Member News

Berlin and Amsterdam, 10 February 2022 - Fraugster, a German-Israeli payment intelligence company, has partnered with marketplace payout specialist, Payaut to provide fraud prevention services to marketplaces. This collaboration allows marketplaces to have easy access to a range of fraud prevention, compliance and revenue uplift solutions.

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.

Payaut is a licensed European payment institute founded in 2019 by payment industry and eCommerce experts. Its mission is to provide the best e-commerce experience for operators and users of online marketplaces. Payaut’s payment solution ensures that money flowing through online marketplaces ends up with the right seller, whether it is an individual or a business.

Payaut CEO, Ernst Van Niekerk "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.”

Fraugster Co-CEO, Christian Mangold says “The collaboration with Payaut is another step in successfully supporting the Marketplace ecosystem/arena. 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.”

About Fraugster
Fraugster is a Berlin based payment intelligence company. Fraugster enables the world's leading merchants, global payment companies like Worldline and Ratepay to intelligently manage the impact of fraud to minimize the costs of fraud, maximize revenue and improve customer experience. Fraugster has developed one of the most accurate AI fraud prevention solutions in the market and is backed by leading deeptech investors Earlybird, Speedinvest, CommerzVentures and Munich Re Ventures. 

For further information please contact: 
pr@fraugster.com 


 

Blue-tinted background of a man watching a webinar

Host a Webinar with the MRC

Help the MRC community stay current on relevant fraud, payments, and law enforcement topics.
Submit a Request

Publish Your Document with the MRC

Feature your case studies, surveys, and whitepapers in the MRC Resource Center.
Submit Your Document

Related Resources

There are no related Events

Mar 08, 2023
First-Party Fraud: What It Is, and What It Isn’t

The fraud prevention industry is peppered with hundreds of vendors who mainly solve for third-party identity theft fraud. Some vendors branch out into synthetic fraud, including manipulated or fabricated identities, yet very few vendors tackle first-party fraud. First-party fraud is defined as the use of one’s own identity to open an account and use it to commit a dishonest act for personal or financial gain. It remains an elusive problem because there are no consumer victims in chargebacks, disputes, or overdraft fraud. Moreover, when it comes to the granular semantics of first-party fraud, different opinions start to clout the agreed-upon definition, making it difficult to classify, pinpoint, and ultimately combat these dishonest acts. 

Join this session to hear from industry experts about: Where do manipulated identity or rewards gaming abuse fall on the spectrum between first-party and synthetic fraud?  How do these categorizations differ by industry? In what ways do our assumptions around these semantics turn into ineffective proxies for first-party fraud?  How can we differentiate between a consumer’s intent to commit a dishonest act, versus a consumer who was manipulated into a dishonest act, versus a consumer making an honest mistake? 

The key is context. We need to understand a consumer’s act in context of other financial decisions they’ve made across various life stages, across different financial institutions, and across various economic environments. Behavioral anomalies across time and space will serve as better proxies in determining whether a consumer is a true first-party fraudster or whether new socio-economic conditions or happenstance interactions with malicious actors have resulted in a first-party-like occurrence. 

In order to achieve this level of context, a multi-industry data consortium is required. Consumer transactional behavior can then be analyzed across the financial ecosystem, over time, to correlate actions with true first-party fraud and to promote an ecosystem of trust.

There are no related Surveys

X
Cookies help us improve your website experience.
By using our website, you agree to our use of cookies.
Confirm