SEON has announced the availability of its fraud detection and prevention app on Shopify. SEON’s new app provides smarter, easier fraud checks to Shopify’s 1.75 million merchants worldwide, reducing chargebacks, lost payments, and goods, as well as smarter fraud checks powered by AI and machine learning (ML).
Tamas Kadar, CEO of SEON, said, “Merchants of all sizes want to understand and simplify their fraud-fighting efforts, but today’s enterprise solutions are too difficult and expensive for smaller online businesses to integrate. Most AI and blackbox machine learning fraud detection solutions also keep the actual fundamentals of how they fight fraud a secret and how risk assessments are made, making it hard for merchants to understand why a transaction is declined. We’re democratizing fraud-fighting with fully transparent, simple, and powerful solutions that give any size business the opportunity to use enterprise-grade fraud prevention software to better protect their operations.”
E-commerce vendors of all sizes are concerned about privacy, fraud, and financial services, but few can afford large teams of security professionals or the custom enterprise-grade solutions that are now available. The advanced, adaptable, and clear integration can be set up with one click to ensure a frictionless customer experience, requiring no technical or fraud risk knowledge. SEON’s Shopify fraud protection solution reduces economic loss and higher profitability by strengthening Shopify’s fraud defenses and amplifying protection through automated, real-time data checks and risk scores powered by SEON’s intelligent scoring engine.
Customers’ digital footprints are compiled and analyzed using SEON’s industry-leading device fingerprinting and data enrichment technology, which includes a trail of publicly available data belonging to the same online user, such as visited websites, email addresses, and data submitted to online services. This includes checking 35+ social media and online signals, as a fraudster cannot match the scale, depth, and breadth of social and digital footprints in today’s hyperconnected world. The analysis will assist vendors in significantly improving risk assessment accuracy, reducing false declines, and ensuring orders are valid before fulfilling them.