Wix partners Forter to leverage its fraud prevention solutions

Through this partnership, Forter will be able to deliver its real-time decisions to Wix merchants in certain regions thus improving customer experience and security. According to the company press release, Forter decisioned more than USD 300 billion worth of transactions in different industries. 

In Wix’s case, Forter aims to enhance approval rates using an identity-based decision engine. This engine leverages a network of online retailers that enables Wix users to maximise conversions and minimise chargebacks without sacrificing customer experience. As far as fraud prevention is concerned, Forter can improve the way Wix manages transaction and mercant risk thus providing Wix users with better fraud protection. 

In the official press release, Wix representatives expressed their commitment to helping their users to grow their businesses seamlessly and securely. They also talked about the partnership with Forter and how it allows merchants to focus more on growing their business instead of having to worry about fraud or false declines.

Other developments from Forter

In October 2022, Forter has launched Smart Claims to help businesses manage chargebacks and increase win rates. Smart Claims connects order and claims data across different payment systems into a single, consolidated view in order to enable merchants to resolve chargeback disputes more intelligently and efficiently, recover lost revenue, and improve win rates. 

The continued growth of online commerce has led to a notable increase in chargebacks, with the average merchant reporting a 25% year-over-year increase in chargeback issuances in 2021, according to Versapay. Chargebacks cost digital commerce businesses billions of dollars every year, and dealing with chargebacks has historically presented operational challenges and has been a time-consuming, costly, and risky process for merchants. 

In January  2023,  Forter has announced the acquisition of Immue, an Israel-based bot detection company to strengthen its existing fraud management capabilities. By acquiring Immue, Forter gained the ability to leverage domain-specific bot expertise, which can boost its efforts in offering real-time solutions to any fraud-related problems and bot attacks companies might face. 

Although not new a new threat, bot attacks have intensified by number in the past years, leaving the world’s biggest brands exposed to a series of identity threats, including account takeovers, service disruptions, reputation damage, and a decrease in consumer trust. By using Immue’s proprietary technology, Forter is able to detect bot attacks and stop the most sophisticated fraudsters’ attempts throughout the full customer lifecycle from account creation to checkout.

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