MangoPay Gets Nethone To Support Markets In Fighting Fraud

MangoPay, a European payment technology supplier for markets and platforms, is acquiring Nethone, an AI fraud detection and prevention business.

MangoPay will provide anti-fraud technology tailored exclusively for marketplaces, which account for more than two-thirds of e-commerce transactions and are thus a prominent target for fraudsters.

Nethone’s patented machine-learning solution blends behavioural data collecting, hardware, software, network intelligence, and behavioural biometrics to assist platforms in securing every step of the user experience.

The companies claim that the system will prevent over 95% of account takeovers, lowering the number of phoney accounts, fraud rates, chargebacks, and unauthorised transactions. They say this will enhance conversion and approval rates and eliminate erroneous rejections due to fraud suspicions.

Romain Mazeries, CEO, MangoPay, says: “Every platform must have a deep understanding of its users in real-time throughout their entire customer journey to reduce fraudulent activity. We’re delighted to welcome Nethone to the group and offer a unique set of anti-fraud capabilities on top of our existing infrastructure.”

The purchase is part of a majority investment in MangoPay disclosed in the summer by private equity firm Advent International.