In a strategic move to bolster cybersecurity in the rapidly expanding e-commerce sector, Equifax, a global leader in data analytics and technology, has partnered with VTEX, a renowned digital commerce platform. This collaboration, initiated in 2023, is set to revolutionize how merchants across the globe tackle the ever-present threat of online fraud.

Equifax and VTEX’s alliance brings together the prowess of Equifax’s Kount Payment Fraud solution with VTEX’s comprehensive commerce platform. This integration is a major leap forward, allowing enterprise customers to enhance their fraud prevention measures while ensuring that customer transactions are seamless and secure.

Online fraud is a growing concern for businesses worldwide, with projected losses from payment fraud expected to surpass $362 billion between 2023 and 2028. As more consumers turn to online shopping, the vulnerabilities of digital transactions become increasingly apparent. Phishing, identity theft, and card testing are just a few of the challenges facing merchants today.

The Kount Payment Fraud solution by Equifax is designed to tackle these issues head-on. It utilizes Artificial Intelligence and Machine Learning to make real-time decisions during payment events, helping to reduce the risk of fraud significantly. The solution also offers customizable policies, robust reporting, and access to a global network of transactional data, providing businesses with the tools they need to stay ahead of fraudulent activities.

VTEX, with its strong portfolio of over 2,600 customers in 43 countries, recognizes the critical need for advanced anti-fraud tools. Santiago Naranjo, CRO at VTEX, emphasized the importance of cybersecurity as a foundation for the continued prosperity of businesses worldwide. The partnership with Equifax underscores VTEX’s commitment to delivering not only top-notch commerce solutions but also ensuring the security and trustworthiness of each transaction.

Adam Gunther, Senior Vice President and General Manager of the Digital Solutions team at Equifax, highlighted the balance that needs to be struck between benefiting from the boom in e-commerce and managing the associated risks. This partnership aims to equip merchants with state-of-the-art technology to secure their online transactions and focus on their core business goals without the looming threat of fraud.

Equifax’s commitment to leveraging advanced technology for real-time fraud prevention is at the heart of this partnership. With the ever-evolving landscape of digital fraud, the collaboration between Equifax and VTEX presents a proactive approach to minimizing false positives, enhancing fraud capture rates, and ensuring a secure payment experience for customers.

One testimonial to the efficiency and value of this partnership comes from Cody Stapleton, Co-CEO & Chief Commercial Officer at Jeffers Pet. He lauded the swift and effortless integration of the Kount Payment Fraud Solution within the VTEX platform, which addressed their cybersecurity concerns in an impressively short timeframe.

The alliance between Equifax and VTEX marks a significant step forward in the fight against e-commerce fraud. By combining the expertise and technology of two leaders in their respective fields, enterprise customers around the world can look forward to more secure, efficient, and trustworthy digital transactions. This not only protects businesses from potential losses but also builds consumer confidence in the online shopping experience—an essential element in the continuous growth of the digital economy.