Mangopay launches new AI-driven Fraud Prevention solution

By Gloria Methri

Mangopay, a modular and flexible payment infrastructure provider for platforms, has announced the launch of its new Fraud Prevention solution.

The solution provides a fully integrated and payment processor-agnostic AI-driven cybersecurity solution to guard against an evolving range of threats, including account takeover by both bots and humans, reseller fraud, payment fraud, chargebacks, and return abuse.

The customisable product offers enhanced protection for platforms from existing and emerging threats, including real-time fraud detection, darknet insights and device fingerprinting. Platforms can connect to the solution through the Mangopay product ecosystem, meaning they can easily protect themselves against fraud without any additional integration. Platforms can also connect their existing payment processors through a seamless, easy-to-integrate API.

Mangopay’s Fraud Prevention solution leverages a detection engine based on Nethone technology – the fraud detection and prevention specialist acquired last year.

Every transaction is screened using signals and trained on billions of data sets from across Mangopay’s vast merchant network, protecting platforms from similar attempted attacks.

Mangopay’s solution has been created to safeguard e-commerce, marketplace and fintech platforms while minimising friction for legitimate end users. Platforms can access real-time notifications on transaction recommendations and sort fraud inquiries to get granular data on transactional outcomes.

Ariel Shoham, Vice President of Risk Products at Mangopay, said, “The task of maintaining risk and compliance has become increasingly complex, necessitating not only heuristic rules but also continuous monitoring to adapt to dynamic regulatory changes. This complexity has created the need for adaptive business policies as well as new avenues for fraud at more touch points across the user journey, expanding the attack surface for fraudsters.

“Mangopay is addressing these challenges head-on with our new, fully integrated Fraud Prevention solution, placing it at the forefront of trust and integrity in financial services. Our platform’s strength lies in its ability to make data-driven decisions using unique financial and behavioural datasets. With our integrity modules seamlessly integrated into our ecosystem, clients can quickly deploy robust fraud prevention and compliance frameworks.”