MANGOPAY, a platform-specific payment infrastructure provider, is acquiring AI fraud detection and prevention company Nethone to develop and offer anti-fraud solutions designed specifically for marketplaces. Faced with surging online fraud rates, this solution will allow any type of platform to transform threats and challenges posed by malicious activity into accurate, profitable business decisions.
Marketplaces account for over two thirds of global eCommerce transactions, making them a prime target for fraudsters. As third-party intermediaries, platforms are even more vulnerable to fraud than classic digital commerce. To better detect and prevent threats in real time, and predict future patterns of increasingly sophisticated malicious activity, platforms require enhanced security features with augmented data-centric capabilities. MANGOPAY and Nethone are creating the first fraud prevention solution on the market built specifically for platforms and marketplaces.
Nethone’s proprietary machine-learning powered solution incorporates behavioural data collection, hardware, software, network intelligence, as well as behavioural biometrics to allow platforms to make informed decisions and secure every point of the user journey, both on mobile or desktop. With a wide range of mobile-native attributes analysed, the solution is accurate in identifying fraudulent activity within the growing number of transactions carried out on mobile devices.
Enhancing MANGOPAY’s pay-in, pay-out authentication and seller onboarding capabilities with deeper Know Your User intelligence protects marketplaces from sophisticated fraud and abuse, while offering both their buyers and sellers a frictionless experience. MANGOPAY and Nethone’s collaboration already allows platforms to improve conversion rates thanks to the optimisation of pay-in transaction scoring, better 3DS2 exemption management and ID check validation.
Romain Mazeries, CEO, MANGOPAY, comments: “Every platform must have a deep understanding of its users in real-time throughout their entire customer journey to reduce fraudulent activity. We’re delighted to welcome Nethone to the group and offer a unique set of anti-fraud capabilities on top of our existing infrastructure. This is a key step in our mission to provide marketplaces and platforms with the best solution to drive their success.”
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