Equifax has joined forces with VTEX to help fortify fraud prevention capabilities for merchants across the globe. This strategic partnership combines the fraud detection and prevention expertise from Equifax with the VTEX commerce platform, empowering enterprise customers to better secure their businesses.
The collaboration enables customers on the VTEX platform to integrate with the Equifax Kount Payment Fraud solution, an advanced anti-fraud solution that is used by more than 20,000 businesses operating in over 40 countries around the world to better engage with their customers while combating fraud.
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The integration of the VTEX platform to bring a number of benefits
The integration is designed to offer real-time fraud protection during payment events, helping to safeguard transactions without disrupting the checkout flow. This includes scalable Artificial Intelligence-based decisioning and flexible business policies tailored to the needs of customers, financial institutions, and other businesses that conduct digital customer interactions.
It also includes access to a global network that delivers a proprietary set of Equifax digital and physical identity data attributes that is bolstered by more than 60 billion annual transactions. Additionally, it provides robust reporting and analytics capabilities that deliver actionable insights for businesses of any size.
“As enterprise businesses navigate the evolving commerce arena, heightened cybersecurity is undeniable. It’s not just a shield against potential threats; it’s the bedrock of sustainable success,” said Santiago Naranjo, CRO at VTEX. “Our partnership with Equifax showcases our unwavering commitment to cybersecurity, bolstered by a focus on enhancing trust in every transaction. Our partnership isn’t just about protection; it’s about continued prosperity of customers worldwide.”
The partnership aligns with the rising demand for robust fraud prevention measures globally in the e-commerce landscape. Worldwide e-commerce fraud is increasing, with enterprise losses from online payment fraud expected to exceed $362bn between 2023 to 2028. With the rise of e-commerce orders, enterprises are increasingly vulnerable to various forms of fraud, including card testing, phishing, identity theft, and more. The collaboration between Equifax and VTEX addresses this challenge head-on, providing customers with advanced tools to combat fraud and help protect their revenue.
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