BERLIN, Aug. 10, 2022 /PRNewswire/ — Fraugster, a fee intelligence firm, has been chosen by epay to pilot AI fee fraud prevention companies. epay is a full-service fee supplier and the digital funds processing enterprise section of the worldwide monetary expertise options and funds supplier Euronet Worldwide, Inc. (NASDAQ: EEFT).
epay’s worldwide transactions for fee and branded fee processing throughout all channels grew 30% in 2021 to greater than 3 billion. As a result of the full-service fee supplier continues to increase its engagement in web-based and in-app channels, it is very important repeatedly develop the general ecosystem safety that minimizes threat from the outset utilizing Fraugster’s AI Anti-Fraud Engine.
“With Fraugster’s AI knowledge enrichment and customized knowledge factors we’ll acquire deep insights into end-user habits for our provided fee strategies, which can strengthen our present fee safety technique,” stated Dr. Markus Landrock, epay’s Managing Director of DACH and World Issuing, Funds & Rewards. “It would additionally allow us to make extra correct approval choices as we proceed to develop our enterprise, while giving us the pliability we have to cater for various enterprise fashions throughout the Euronet group. This fashion, our retail and model companions in addition to their finish clients can proceed to depend on safe processes at epay sooner or later.”
As a result of the demand for digital and branded funds are continuously rising, these fee strategies require ongoing growth in fraud prevention throughout the threat system. As well as, e-commerce fraud losses are considerably increased now than pre-pandemic ranges, costing on-line retailers closely and making fee safety and intelligence extra essential than ever.
“We’re delighted to be working so carefully with one other well-established monetary expertise firm that’s working in a high-risk vertical, providing their clients a spread of fee strategies with out compromising on fee safety,” stated Fraugster CEO Christian Mangold. “A mixture of our experience and AI expertise will make sure that epay continues to see a rise in fee acceptance and discount in fraud losses.”
About Fraugster
Fraugster is a Berlin primarily based fee intelligence firm. Fraugster permits the world’s main retailers, and international fee firms like Worldline and Ratepay to intelligently handle the impression of fraud to attenuate the prices of fraud, maximize income and enhance buyer expertise. Fraugster has developed one of the correct AI fraud prevention options out there and is backed by main buyers Earlybird, Speedinvest, CommerzVentures and Munich Re Ventures. Additional data will be discovered at https://www.fraugster.com.
About epay
epay, a section of Euronet Worldwide, Inc. (NASDAQ: EEFT), is a number one international supplier of fee processing and pay as you go options that processed greater than 3 billion transactions in 2021. The corporate has constructed an in depth community of retailer touchpoints with 760,000 point-of-sale terminals in 63 nations that connects manufacturers with shoppers everywhere in the world. The corporate gives a various ecosystem of companies, merchandise and options supporting the distribution of Cost and Branded Funds for greater than 1,000 model companions through Commerce, eCommerce and mCommerce options. For extra data go to www.epayworldwide.com.
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For additional data, please contact:
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SOURCE Fraugster
