Payments platform NMI is collaborating with digital identity firm Kount, an Equifax company, to provide independent software vendors, independent sales organizations and merchant partners with enhanced fraud protection.
With this partnership, users of the NMI Advanced Fraud Prevention solution will be able to add Kount’s solutions that are designed to detect and prevent fraud in eCommerce, mobile commerce and card-not-present transactions, the companies said Monday (Nov. 21) in a press release.
“Our collaboration with Kount, an Equifax company, will provide greater value to our partners by giving them an additional safeguard to fight fraudulent transactions,” NMI Chief Strategy Officer Nick Starai said in the release.
The Kount platform is powered by artificial intelligence (AI) and provides fraud prevention in gift cards, cross-border selling, online charity donations, account takeover and other common online targets, according to the press release.
The AI and machine learning provide a real-time risk and safety score that helps merchants approve, decline or challenge a transaction.
NMI’s global payment enablement platform is used by 3,300 partners and 274,000 merchants around the world, per the release.
“Kount and NMI share a common commitment to power and protect digital innovation so that more businesses can succeed,” Kount Chief Revenue Officer Jared Kernodle said in the release. “Our services complement each other, enabling us to provide end-to-end fraud protection while also delivering more innovation for consumer insights.”
The identity data that is central to detecting and stopping theft has other uses that are emerging alongside new fraud-fighting tools, Kernodle told PYMNTS in an interview posted Nov. 14.
He sees “multiple use cases, not just in traditional retail and restaurant,” but in driving better experience in healthcare, insurance, automotive and everywhere commerce now happens by collecting data points that can be leveraged by businesses to help their customers.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More