Mangopay introduces fraud prevention solution

Modular and flexible payment infrastructure provider for marketplaces and platforms Mangopay has launched an AI-enabled Fraud Prevention solution for its customers.

In a bid to safeguard against evolving threats, Mangopay introduced a Fraud Prevention solution that offers a fully integrated and payment processor-agnostic AI-enabled cybersecurity service. The new solution focuses on guarding against account takeover by bots and humans, reseller fraud, payment fraud, chargebacks, and return abuse. By making it customisable to the user’s needs, Mangopay aims to allow increased protection for platforms to safeguard against existing and emerging threats, such as real-time fraud detection, darknet insights, and device fingerprinting.

In addition, platforms can connect to the Fraud Prevention solution via the Mangopay product ecosystem, enabling them to benefit from the features without requiring additional integration. Also, customers can connect their existing payment processors via a simplified, easy-to-integrate API.

More information on the announcement

By utilising an experienced fraud detection engine based on original Nethone technology, Mangopay’s Fraud Prevention solution benefits from darknet insights that can support platforms in guarding themselves against techniques and patterns leveraged by advanced fraudsters. Transactions are screened using signals and trained on data sets from across Mangopay’s merchant network, thus protecting platforms from similar attempted attacks. Additionally, the company offers a user-friendly interface, with clients maintaining control and visibility of fraud prevention recommendations and actions. Also, they receive the ability to include their own rules for increased protection.

Furthermore, Mangopay’s Fraud Prevention solution was developed to safeguard ecommerce, marketplace, and fintech platforms, whilst reducing difficulties for legitimate end users. The solution allows platforms to access real-time notifications on transaction recommendations and sort fraud inquiries to get data on transactional outcomes. Platforms can also utilise machine learning to investigate fraudulent techniques and suspicious user behaviour, as well as to benefit from device fingerprinting techniques to identify and track devices leveraged at the checkout to support the confirmation of end-customer identity.

Mangopay’s officials highlighted that, by launching the Fraud Prevention solution, the company aims to address current difficulties in the payments landscape. The main capabilities of the service lay in its ability to make data-driven decisions utilising unique financial and behavioural datasets. The company’s integrity modules integrated into its ecosystem allow clients to deploy fraud prevention and compliance frameworks, thus providing them with fully managed services for smaller clients and extending to a studio for both custom and customisable fraud and compliance presents and models made to fit the specific requirements of bigger clients.

For more information about Mangopay, please check out their detailed profile in our dedicated, industry-specific Company Database.