Fraud figures are staggering. And they are frightening. In the world of payments, it will cost merchants more than $40bn dollars a year by 2027. Smaller e-merchants are victims of more than 200,000 attacks per month on average. Fraud attempts against larger e-retailers are increasingly successful (48% this year compared to 43% last year); 54% of consumers say they have experienced fraudulent actions on the internet and 21% are afraid their data will be stolen.

“Every platform must have a deep understanding of its users in real time throughout their entire customer journey to reduce fraud activity,” stated Mangopay CEO Romain Mazeries, who has just acquired Nethone’s anti-fraud system for an undisclosed sum. “We’re delighted to welcome Nethone to the group and offer a unique set of anti-fraud capabilities on top of our existing infrastructure. This is a key step in our mission to provide marketplaces and platforms with the best solution to drive their success.”

95% reduction in unwanted account takeovers

According to a 29 November , with a single integration, this enables a platform to reduce account takeovers by 95% by reducing false accounts, fraud rates, chargebacks and unauthorised transactions. It also increases conversion rates by 9% and approval rates by 26% by reducing false declines due to suspected fraud; and reduces manual review of suspicious traffic by 60%.

Nethone’s co-founder and CEO, Hubert Rachwalski von Rejchwald, will join Mangopay’s executive committee although his company, which already counts BlaBlaCar, Farfetch, Booksy and Grover as clients, will remain autonomous.

With 400 employees in eight offices in Europe, including one in Luxembourg, Mangopay is maintaining its growth trajectory: after , the company should reach €12bn this year, or €32bn since its launch in 2013. Revenues are up 60% thanks to 40 million active accounts. In April, the American fund from Crédit Mutuel Arkea.

This article was originally published in French by