Next-gen payment orchestration platform Yuno has partnered with AI payment intelligence company Fraugster to provide online merchants with access to a range of fraud prevention, compliance and revenue uplift solutions, via a single API.
Companies of all sizes across Latin America continuously face challenges in managing multiple payment methods and fraud detection tools for accepting online payments leading to fragmentation, complexity, and high costs.
According to the latest data from the Merchant Risk Council (MRC), Latin American merchants experience the highest average chargeback rates (3.8 per cent vs 2.6 per cent in Europe) and the highest order rejection rates (6.9 per cent vs 2.8 per cent EU) of any global region.
This new partnership aims to address these challenges head-on to help businesses reduce fraud losses and the total cost of managing fraud. Yuno was founded with the aim to improve online payment orchestration in Latin America. Its solution also allows online businesses to customise their checkout, monitor acceptance rates, access reporting tools, and utilise multiple fraud managing features and smart routing.
Partnership to help Yuno merchants
Fraugster is a payments intelligence company that helps the e-commerce ecosystem to minimise fraud and maximise revenue by making smarter real-time business decisions. They help customers solve multiple use cases by giving them access to various, interoperable products via one integration.
Fraugster strengthens Yuno’s offering by applying advanced AI trained on global payment data to make more accurate decisions to boost approval rates. Innovations in machine learning and artificial intelligence also allow Yuno merchants to go-live immediately without historical data, which is especially relevant in an industry where long integration cycles delay speed to value.
Julián Núñez, co-founder at Yuno says: “Accepting and optimising online payments shouldn’t be a pain point for merchants. Together with Fraugster we are building the ultimate solution that will enable merchants to make online checkout quick, easy, and secure so that they can focus on their core business.”
While Christian Mangold, Fraugster CEO says: “We are delighted to be partnering with Yuno as we expand further into the LaTam region. We now have an additional partner who shares our belief that the industry needs to unite against fraud and provide more flexible and scalable solutions to customers. Our solution enables our customers to simplify operations by picking from multiple solutions, including chargeback liability coverage, via one integration.”
Image and article originally from thefintechtimes.com. Read the original article here.