Payment intelligence company Fraugster has announced a new collaboration with the market payout firm Payaut.
The collaboration seeks to focus on efficient access to fraud prevention, compliance and revenue uplift solutions for marketplace companies.
It comes as marketplaces were responsible for 62% of all online consumer sales in 2020 according to Digital Commerce 360, thus making fraud a highly prevalent challenge.
Fraugster Co-CEO, Christian Mangold commented on the partnership: “The collaboration with Payaut is another step in successfully supporting the marketplace ecosystem.
“With this partnership and our recently teaming up with German marketplace Refurbed, we are further extending our fraud prevention capabilities by providing flexible and scalable solutions for online marketplace platforms.”
Last year saw the top 100 online marketplace companies gross $2.67 trillion in merchandise sales, which in turn brings increased risk of increased fraud attempts. Whether these fraud attempts have come through true fraud or friendly fraud, it is a challenge that exists for all marketplace companies.
The German-based Fraugster has used advanced intelligence (AI) softwares since they were founded in 2014. Their advanced API helps your transaction by applying additional datapoints whilst also performing real-time risk analysis.
Fraugster’s partnership helps Payaut to deliver a safer and efficient transaction approach for e-commerce businesses and operators. With online fraud becoming a higher risk since the COVID-19 pandemic, Payaut CEO, Ernst Van Niekerk, has welcomed the partnership with Fraugster and their high-level fraud prevention solutions.
Van Niekerk stated: “We look forward to working together with Fraugster to provide fraud prevention services to marketplaces.
“Through a single integration, marketplaces can select from multiple solutions, including full chargeback protection, resulting in streamlining and simplifying fraud detection.”