Question: I need a solution to reduce payment fraud and chargebacks for my online business.

If you're looking for a powerful solution to cut payment fraud and chargebacks for your e-commerce business, Riskified is a good choice. The service uses AI and machine learning to optimize revenue and cut fraud. It includes Chargeback Guarantee, Policy Protect, Dispute Resolve and Account Secure to handle fraud and chargebacks. With the ability to assess more than 480 data attributes, Riskified says companies have achieved results like a 50% reduction in fraud costs and a 1.5% increase in transaction success.

Another option is Forter, which provides real-time decisions for all customer interactions. It includes Identity Protection to stop fake accounts and takeover attempts, Fraud Management to stop payment fraud, and Chargeback Recovery to automate the dispute process. Forter's network of major brands and AI-powered insights have resulted in an average 72% reduction in chargebacks and 46% reduction in false declines, so it's a good option for businesses trying to run their digital commerce operations as smoothly as possible.

FUGU is also worth a look for its AI-powered fraud prevention abilities. The service reviews transactions before and after checkout, gathering details that let it spot complex fraud patterns like friendly fraud. FUGU offers features like initial risk profiling, payment monitoring and chargeback management, and says it's blocked 51% of friendly fraud and recovered 61% of chargebacks. It works with several e-commerce platforms and offers customized pricing quotes based on individual customers' needs.

For a more multifaceted approach, Vesta offers advanced risk scoring and machine learning technology to make decisions in real time. Its services include Payment Protect and Payment Guarantee, which offer risk scoring and transaction guarantees against fraud. Vesta's system supports multiple payment types and offers a graphical interface to see transaction scores, making it a good option for eCommerce merchants and other businesses that want to maximize approval rates while minimizing fraud.