Equifax (NYSE: EFX) is introducing a new Kount Essentials fraud detection and prevention application on the Shopify App Store.
Specifically designed to address the fraud challenges faced by the platform’s millions of small business merchants, this enhanced technology is easy “to implement and customize for businesses of all sizes.”
In 2022, global e-commerce payment fraud “amounted to $41 billion in losses, and industry analysts predict that figure will reach $48 billion by the end of 2023.”
According to research by ACFE, 54 percent of all victim organizations “don’t recover any of the losses caused by fraud.” This is especially devastating “for small businesses which, when hit by fraudulent activity, cannot rebound as quickly as large corporations.”
Adam Gunther, Senior Vice President and Chief Product Officer, at Equifax Digital Solutions, said:
“Equifax has launched a Kount Advanced app for Shopify designed for larger businesses with dedicated fraud management teams since 2019. We recognize the unique challenges faced by small businesses and with the introduction of Kount Essentials, we’re making our award-winning fraud prevention capabilities available to growing organizations. Merchants on Shopify now can choose between Kount Essentials or Kount Advanced, depending on which features best suit their business. In offering two tiers of protection, Equifax is able to provide cutting-edge technology to all merchants that is as adaptive as modern fraud threats.”
The new Kount Essentials app on the Shopify App Store provides unique capabilities designed to meet the needs of small businesses, including:
- “Plug-and-play” installation and onboarding – Kount fraud services can be integrated into a Shopify store with just a few clicks. No coding is required for integration — the app installs directly in the Shopify Admin.
- Immediate results – With the ability to install in just minutes, businesses have award-winning Kount fraud protection from Equifax running in the background immediately.
- In-app decisioning – Kount Essentials results can easily be viewed from the merchant’s Shopify dashboard, enabling easy, real-time data analysis.
- Kount Essentials complements the advanced functionality already built into the Kount Advanced plan for Shopify. With available features including everything from proven-effective machine learning and decades of data to on-demand support and customizable policies, merchants can now access a fraud solution on Shopify that is just as unique as their business.
At Equifax, they believe knowledge drives progress.
As a global data, analytics, and technology company, they play “an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence.”
Their blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward.
Headquartered in Atlanta and supported by nearly 14,000 employees worldwide, Equifax operates or “has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region.”