Mangopay, a leader in modular payment infrastructure for platforms, has just launched its revolutionary AI-driven Fraud Prevention solution. This advanced cybersecurity suite promises comprehensive protection against an array of digital threats, from account takeovers and reseller fraud to payment fraud and chargebacks.
A New Era of Fraud Detection
Mangopay’s solution is both integrated and payment processor-agnostic, making it adaptable for various platforms. The AI-driven system offers real-time fraud detection, insights from the darknet, and device fingerprinting, ensuring platforms are shielded from both existing and emerging threats without requiring additional integration. Existing payment processors can also be connected effortlessly through Mangopay’s seamless API.
Leveraging technology from Nethone—a fraud detection specialist acquired by Mangopay—the solution benefits from years of darknet intelligence. Every transaction is scrutinized using signals trained on billions of data sets from Mangopay’s extensive merchant network, identifying sophisticated fraud attempts with precision.
Key Features
- Real-time fraud detection: Immediate alerts and analysis on suspicious transactions.
- Darknet insights: Protection based on intelligence gathered from the dark web.
- Device fingerprinting: Tracks devices used in transactions to verify customer identities.
- Customizable rules: Platforms can set bespoke fraud prevention rules tailored to their specific needs.
The Growing Threat
Global online fraud losses exceeded $38 billion in 2023 and are projected to rise to $91 billion by 2028. E-commerce merchants reported a 2.9% revenue loss to payment fraud in the 2023 Global Ecommerce Payments & Fraud Report. Mangopay’s solution aims to safeguard e-commerce, marketplace, and fintech platforms while maintaining a frictionless experience for legitimate users.
Leadership and Vision
In May 2024, Mangopay appointed Ariel Shoham, a former product leader at Meta and Forter, as Vice President of Risk Product. Shoham commented: “Maintaining risk and compliance is increasingly complex, requiring heuristic rules and continuous monitoring. Mangopay’s new Fraud Prevention solution addresses these challenges with a data-driven approach, integrating integrity modules seamlessly into our ecosystem.”
Mangopay’s platform empowers clients to manage risks, compliance, and fraud attempts effectively, ensuring a seamless user experience.
