PAYMENTS

Fraugsterand Payaut Partnership will Provide Fraud Prevention Services to E-commerce Marketplaces

Fraugsterand | February 15, 2022

Fraugsterand_Payaut_Partnership
Fraugster and Payaut have come together with a similar aim to provide prevention services to marketplaces. Fraugster is a German-Israeli payment intelligence company and collaborated with payout specialist, Payaut. The collaboration will enable marketplaces to access a wide range of fraud prevention, uplifted revenue, and compliance solutions.

According to Digital Commerce 360, it was recorded in 2020 that marketplaces accounted for 62 percent of global online consumer sales. The recorded top 100 online marketplaces facilitated the sale of $2.67 trillion in gross merchandise in the same year. However, marketplaces often face fraud challenges with increasing sales monthly and annually. One of the most significant is Chargebacks. It faced true fraud or friendly fraud (AKA chargeback fraud). To cope with such situations, Fraugster's Managed Services solutions for marketplaces will aid marketplaces by providing a guarantee through AI data. In this way, marketplaces can get enriched access over global sanctions lists with the help of single integration, get accurate decision-making factors, overall fraud monitoring, and focus on resources, time, and investment options in the crucial business areas.

Founded in 2019, Payaut is a licensed European payment institute by payment industry and eCommerce experts. The mission of Payaut is to provide the best e-commerce experience for operators and users of online marketplaces. Its payment solution ensures that money flow through the online marketplace meets the right seller—individual or a business.

On this venture, Ernst Van Niekerk, Payaut CEO, says, "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."

Also, about the collaboration, Christian Mangold, Fraugster Co-CEO, says, "The collaboration with Payaut is another step in successfully supporting the Marketplace ecosystem. 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."

Spotlight

The rise of digital banking has coincided with a decline in the presence of traditional banks, which have faced a loss of 9% of all branches across the country in the past 4 years.

Spotlight

The rise of digital banking has coincided with a decline in the presence of traditional banks, which have faced a loss of 9% of all branches across the country in the past 4 years.

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