back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

epay selects Fraugster to pilot fraud prevention services for its payment processing

By Joy Dumasia

August 11, 2022

  • AI Payment
  • Berlin
  • Digital Payments
Share

Fraugster, a payment intelligence company, has been selected by epay to pilot AI payment fraud prevention services. epay is a full-service payment provider and the digital payments processing business segment of the global financial technology solutions and payments provider Euronet Worldwide, Inc.

epay’s worldwide transactions for payment and branded payment processing across all channels grew 30% in 2021 to more than 3 billion. Because the full-service payment provider continues to expand its engagement in web-based and in-app channels, it is important to continuously develop the overall ecosystem protection that minimizes risk from the outset using Fraugster’s AI Anti-Fraud Engine.

“With Fraugster’s AI data enrichment and custom data points, we will gain deep insights into end-user behaviour for our offered payment methods, which will strengthen our existing payment security strategy,” said Dr. Markus Landrock, epay’s Managing Director of DACH and Global Issuing, Payments & Rewards. “It will also enable us to make more accurate approval decisions as we continue to grow our business whilst giving us the flexibility we need to cater for different business models within the Euronet group. This way, our retail and brand partners, as well as their end customers, can continue to rely on secure processes at epay in the future.”

Because the demand for digital and branded payments are constantly increasing, these payment methods require ongoing development in fraud prevention within the risk system. In addition, e-commerce fraud losses are significantly higher now than pre-pandemic levels, costing online merchants heavily and making payment security and intelligence more important than ever.

“We are delighted to be working so closely with another well-established financial technology company that is operating in a high-risk vertical, offering their customers a range of payment methods without compromising on payment security,” said Fraugster CEO Christian Mangold. “A combination of our expertise and AI technology will ensure that epay continues to see an increase in payment acceptance and reduction in fraud losses.”

IBS Intelligence recently reported that Fraugster, an AI payment intelligence company, together with Worldline, a global leader in secure payments and trusted transactions, has confidently enabled travel merchants to weather the storm of the Covid-19 pandemic with its Chargeback Protection Solution.

Previous Article

August 11, 2022

Saudi EXIM Bank chooses SAS technology for model risk management

Read More
Next Article

August 11, 2022

Finix raises an additional $30m, bringing the company’s total funding to $133m

Read More










IBSi Daily News Analysis

September 30, 2022

AI Payment

Is sustainable/green finance needed more than ever before?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

September 30, 2022

Inswitch and Mastercard International partner to deliver digital payments

Read More

September 30, 2022

Verity goes live with financial literacy app for kids in the UAE

Read More

September 30, 2022

Line and Checkbook partner to introduce faster payments options to its customers

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022