Germany-based security company Fraugster has teamed up with marketplace payout specialist Payaut to provide fraud prevention, compliance, and revenue solutions to marketplaces.
In 2020, marketplaces accounted for 62% of global online consumer sales, according to Digital Commerce 360, and the top 100 online marketplaces facilitated the sale of USD 2.67 trillion in gross merchandise in 2022. 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), according to the press release.
Fraugster’s Managed Services solution takes care of chargeback protection by providing 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 areas of their business.
Payaut is a licensed European payment institute. Its mission is to provide the ecommerce experience for operators and users of online marketplaces. Its payment solution ensures that money flowing through online marketplaces ends up with the right seller, whether it is an individual or a business.
The payments company officials stated that they 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, they added.
For more information about Fraugster, please check out the company profile in The Paypers Company Database .
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