Kount has announced it is launching the industry's first comprehensive service that protects digital companies against both criminal and friendly fraud.
Dubbed the Friendly Fraud Prevention Solution, the solution is designed to protect merchants and other companies against hackers and first person fraud, also known as chargeback fraud or consumer abuse.
The service utilises AI and ML, and it detects pre- and post-transaction fraud, as well as it provides a first-line defense against transaction disputes. Moreover, the Friendly Fraud Prevention Solution features a technology called Visa Merchant Purchase Inquiry, which is part of Visa's claims resolution process. This is designed to reduce chargebacks and cut dispute resolution time.
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