NoFraud is a fraud prevention service that works with Shopify and other e-commerce sites. It combines AI and human oversight to make pass or fail decisions about orders, a process that the company says is accurate and doesn't hurt sales. NoFraud promises a 100% financial guarantee against fraudulent orders and reviews high-risk transactions before they're approved, so it's a good option for e-commerce sites.
Another option is FUGU, an AI-based fraud prevention service that evaluates transactions before and after a purchase to catch sophisticated fraud like friendly fraud. It also decouples payment verification and approval, automates KYC validation and offers multi-level fraud protection. FUGU has been shown to cut false declines dramatically and recover a large percentage of chargebacks, so it's a good option for online merchants.
If you want a more focused service, try Riskified. The service uses AI to optimize revenue and minimize fraud, evaluating more than 480 data attributes to make decisions. Riskified offers a chargeback guarantee, dispute resolution and fraud protection, and says its e-commerce customers have achieved high approval rates and revenue growth.
Another option is Vesta, which offers advanced risk scoring and real-time decision-making technology based on machine learning and AI. It offers a visual dashboard to monitor transaction scores and decisions, tools to manage chargebacks, and support for multiple payment types. Vesta's multi-layered approach means transactions are safe and secure, making it a good option for e-commerce sites and other businesses.