Ingenico introduces AI-Powered solution which reduced fraud to zero for merchants

Ingenico Group, the global leader in seamless payment, announced that it has expanded its fraud detection and management capabilities with a new, real time solution that enables merchants to increase revenue by optimizing their acceptance rate and reduce customer churn.

The new solution leverages sophisticated Artificial Intelligence (AI) technology developed by the German-Israeli payment security company Fraugster to identify and separate fraudulent transactions from legitimate ones.

„This enables a new fraud protection insurance model, which means fraud is reduced to zero for merchants. If any fraudulent transactions slip through the solution, the costs are absorbed by Fraugster. As the solution is fully integrated into Ingenico’s platform, adding the fraud solution is simple and only requires one click activation with no additional technical implementation on the side of the merchant.”, according to the press release.

The new fraud solution offers merchants a choice of two products that each target a side of the risk management coin.
The Fraud Free Product: Made for merchants who have a chargeback problem. This product covers CNP losses for merchants who have high chargeback rates.
The new Fraud Free+: Made for merchants who have an acceptance rate problem. This product not only covers merchant’s chargeback losses but also increases their acceptance rates and revenue by accepting more good customers.

Automated risk management and reporting provide transparency as well as instant, detailed feedback on performance – allowing in-house risk teams to focus on other tasks.

„Fraud is a fact of life for online merchants, but that doesn’t mean they have to just accept it. At Ingenico, we reduce exposure to fraud to a minimum with efficient tooling and expertise,” said Gabriel de Montessus, VP Retail Global Product and Marketing for Ingenico Group. “Artificial Intelligence is the future of fraud prevention, and this solution will help our merchants improve their performance.”
This partnership combines Fraugster’s innovative technology and disruptive vision with Ingenico’s experience, global merchant portfolio and ability to execute at scale,” said Max Laemmle, CEO and founder of Fraugster. “Independently, we each have a piece of the puzzle. Together, we will take that next step and reduce online fraud to zero for merchants.”