Following this announcement, MANGOPAY will develop these solutions looking to enable platforms of any type to change the threats and challenges brought forth by malicious activity into business decisions that are both accurate and profitable.
Enable platforms to operate in a safe environment by preventing more than 95% of account takeovers (ATO), reducing fake accounts, fraud rates, chargebacks, and unauthorised transactions.
Support businesses’ scalability by unclosing upsell potential, increasing conversion rates by 9% and approval rates by 26%, and reducing false declines caused by suspected fraud.
And help build an operationally efficient and scalable platform by reducing traffic that is manually reviewed by 60% through means of well-detailed recommendations.
Following MANGOPAY’s enhancement of its payin, payout authentication and seller onboarding capabilities with deeper know your user intelligence, marketplaces are protected from sophisticated fraud and abuse, while simultaneously being enabled to offer both their buyers and sellers an improved experience.
As of now, MANGOPAY and Nethone’s collaboration already gives platforms the option of improving conversion rates due to the optimisation of payin transaction scoring, improved 3DS2 exemption managements, and ID check validation.
MANGOPAY representatives have advised that each platform should have a deep understanding of its users in real-time throughout their customer journey to reduce fraudulent activity. By having Nethone join their group, the company can now offer anti-fraud capabilities in addition to their already existing infrastructure, with this step believed to be key in the enterprise’s mission of offering marketplaces and platforms solutions that drive their success.
The move follows Advent International’s acquisition of MANGOPAY in April 2022, when it became the company’s new majority investor with the goal of furthering the MANGOPAY’s expansion and product offering.
Nethone officials have stated in the press release that, going forward, the companies will work on the potential identified among MANGOPAY’s existing platform of over 2,500 customers, collaborating in taking Nethone’s know your user technology and refining it to become a best-in-class platform-specific solution. The company will continue in serving companies worldwide, having the vision of building an anti-fraud platform that prevents online payment fraud and secures the entire user journey, from registration to use of service.
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