Payment intelligence firm Fraugster has announced a partnership with LatAm payments company Yuno to spread its fraud prevention solutions across the region.
The partnership aims to boost conversions and secure LatAm ecommerce merchants from fraud attacks, along with increased compliance solutions and increased revenue uplift all via a single API.
Julián Núñez, Co-Founder at Yuno, commented: “Accepting and optimising online payments shouldn’t be a pain point for merchants. Together with Fraugster we are building the ultimate solution that will enable merchants to make online checkout quick, easy, and secure so that they can focus on their core business.”
Companies across the LatAm region face challenges due to the amount of management and time they take up on payment methods, which can neglect a focus on fraud detection tools and as a result, can lead to high costs and fragmentation.
According to Merchant Risk Council, LatAm merchants experience the highest average chargeback rates (3.8%) and highest order rejection rates (6.9%) of any other global region.
The partners seek to alleviate these challenges by applying an advanced AI, trained in global payment data to make more accurate decisions to boost approval rates, which will also allow Yuno merchants to go-live instantly without historical data, a “game changer” in the industry according to Fraugster.
“We are delighted to be partnering with Yuno as we expand further into the LaTam region,” added Christian Mangold, CEO of Fraugster.
“We now have an additional partner who shares our belief that the industry needs to unite against fraud and provide more flexible and scalable solutions to customers. Our solution enables our customers to simplify operations by picking from multiple solutions, including chargeback liability coverage, via one integration.”
