"Our collaboration with Kount, an Equifax company, will provide greater value to our partners by giving them an additional safeguard to fight fraudulent transactions," said Nick Starai, Chief Strategy Officer of NMI.
SCHAUMBURG, Ill. (PRWEB) November 17, 2022
NMI, a leading full commerce-enablement technology company, today announced a product collaboration with Kount, an Equifax Company, and the leader in digital identity trust, fraud, and chargeback prevention, to enhance fraud protection for independent software vendors (ISVs), independent sales organizations (ISOs), and merchant partners.
Kount solutions from Equifax are designed to detect and prevent fraud for e-commerce, m-commerce, and card-not-present transactions. Through this partnership, Kount technology will be made available to NMI’s customer base on top of the company’s proprietary solution, NMI Advanced Fraud Prevention, which sets extensive filters to detect suspicious transactions before they are approved.
Payment fraud is on the rise, considering merchant losses to online payment fraud are expected to exceed $206 billion between 2021 and 2025. Layering Kount technology on top of the NMI Fraud Prevention platform is designed to provide ISVs, ISOs, and merchants with a greater ability to detect and mitigate fraud through the Kount real-time risk analysis and fraud assessment capabilities. This will also be the first third-party solution available in NMI’s App Marketplace and further expands the company’s ability to support full commerce enablement.
"Our collaboration with Kount, an Equifax company, will provide greater value to our partners by giving them an additional safeguard to fight fraudulent transactions," said Nick Starai, Chief Strategy Officer of NMI. “We knew Kount was the right fit for our partner base because of its advanced technical stack. Kount’s adaptive Artificial Intelligence (AI) provides real-time risk analysis, advanced configurable thresholds and end-to-end fraud protection to block or challenge known attacks and suspicious activity all while helping merchants better protect the customer.”
Kount’s AI-driven platform detects and prevents fraud in common online targets such as gift cards, cross-border selling, online charity donations, and account takeover within industries such as travel, jewelry, luxury goods, apparel, electronics, and health and wellness. By leveraging advanced AI and two types of machine learning, Kount solutions work immediately to provide a real-time risk and safety score so that merchants can easily and automatically approve, decline, or challenge transactions.
"Kount and NMI share a common commitment to power and protect digital innovation so that more businesses can succeed. Our services complement each other, enabling us to provide end-to-end fraud protection while also delivering more innovation for consumer insights,” said Jared Kernodle, Chief Revenue Officer at Kount, an Equifax company. "By offering our technology together with NMI, we're expanding the number of merchants we can help to enable safer, more secure, and smarter transactions."
NMI is a leading global payment enablement platform, processing more than $200 billion in payments annually. We enable payments for over 3,300 partners and over 274,000 merchants around the world and across the entire commerce ecosystem: online, in-app, mobile, in-store, unattended, and whatever’s next. We’re constantly innovating in order to power the next era of payments, building in the latest technology, so ISVs, ISOs, banks, and fintech innovators can focus on what they do best. NMI has offices in the US and UK and serves global customers.