Equifax launches Kount Essentials on Shopify App Store

Friday 5 May 2023 11:54 CET | News

US-based Equifax has launched a new Kount Essentials fraud detection and prevention app on the Shopify App Store to address the challenges faced by small business merchants.


Designed specifically to tackle fraud-related problems faced by the platform’s merchants, the enhanced technology is both easy to implement and customise for businesses of all sizes.

Kount Essentials’ fraud prevention capabilities

The announcement details that the Kount Essentials app on the Shopify App Store offers unique capabilities designed to address the needs of small businesses, including:
  • ‘Plug-and-play’ installation and onboarding. Kount fraud services can be integrated into a Shopify store in a matter of clicks, with no coding being required as the app installs directly in the Shopify Admin.

  • Immediate results. As the installation is enabled in a few minutes, businesses can have Equifax’s fraud prevention running in the background in an immediate manner.

  • In-app decisioning. Kount Essentials results can be easily viewed from the merchant’s Shopify dashboard, enabling simple, real-time data analysis.

What is more, Kount Essentials helps complement the advanced functionality built into the Kount Advanced plan for Shopify. As available features include everything from proven-effective machine learning and data to on-demand supports and customisable policies, merchants are enabled to access a fraud solution on Shopify as ‘unique’ as their business.

Equifax has launched a new Kount Essentials fraud detection and prevention app on the Shopify App Store to address the challenges faced by small business merchants.

Payment fraud and what the launch entails

As per the information provided in the press release, in 2022, global ecommerce payment fraud amounted to USD 41 billion in losses, and the prediction of industry analysts is that the figure will reach USD 48 billion come the end of 2023.

What is more, research by ACFE highlights that 54% of victim organisations fail to recover the losses caused by fraud, something that affects small businesses especially, as when hit by fraudulent activity, they cannot rebound as fast as large enterprises.

Adam Gunther, Senior Vice President, and Chief Product Officer at Equifax Digital Solutions said that the company launched a Kount Advanced app for Shopify designed for larger businesses with dedicated fraud management teams in 2019, and as it recognises the unique challenges small businesses face, the launch of Kount Essentials aims to make fraud prevention capabilities available to growing organisations.

Per their statement, merchants on Shopify are enabled to choose between Kount Essentials and Kount Advanced, depending on the features most suitable for their business, adding that in offering two tiers of protection, the company is enabled to provide merchants with technology that is as adaptive as modern fraud threats.

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Keywords: product launch, fraud prevention, fraud detection, online fraud, cybersecurity, cybercrime, financial crime, merchants, ecommerce, SMEs, marketplace, shopping, platform, Shopify, payment fraud, fintech
Categories: Fraud & Financial Crime
Companies: Equifax, Kount, Shopify
Countries: World
This article is part of category

Fraud & Financial Crime






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