Forter, the leader in e-commerce fraud prevention, today announced that Nuvei (TSX: NVEI and NVI.U), the global payment technology partner of thriving brands, will be joining its global network of merchants and banks to fight online fraud and approve more legitimate customers instantaneously. The increased volume and lack of data on new online shoppers makes it difficult for retailers to accurately identify legitimate buyers from fraudsters, leading to false declines, a poor customer experience and ultimately, lost revenue. Combining the power of Forter’s global network with Nuvei’s Native Commerce Platform empowers merchants of any size, across any industry, to increase and fully optimize transactions in today’s worldwide digital marketplace.
Through this partnership, merchants can now tap into Forter’s global merchant network of more than 800 million consumers combined with Nuvei’s fully agnostic payment platform, which is connected to more than 200 acquirers worldwide, supports over 450 alternative payment methods (APMs), and features a proprietary routing engine to maximize transaction approval rates. This enables merchants to recognize and approve more customers, support more local and global payment options, and increase lifetime value while also eliminating the complexity of working with multiple vendors to process transactions.
“As the number of online consumers and transactions continue to rise worldwide, merchants need to create a truly frictionless, secure shopping and checkout experience,” explained Philip Fayer, Chairman and CEO, Nuvei. “To capitalize on an increasingly global marketplace, they must also accept their clients’ preferred forms of payment, stamp out fraud, and reduce cart abandonment to capture immediate and recurring revenue. Together, Nuvei and Forter are delivering just that.”
Liron Damri, Co-founder and President of Forter, commented, “Forter’s global data network is a game-changer for the online e-commerce industry. We enable merchants to fight fraud together, making it much easier to identify attacks across the network, but more importantly, to easily recognize legitimate customers and allow them to interact freely with merchants. In the past year, we’ve expanded our European footprint, which positions us perfectly ahead of PSD2 enforcement.”
“We are always looking for new partners that will bring added value and services to our global solutions, and we’re thrilled to include Forter today,” said Yuval Ziv, Managing Director of Digital Payments at Nuvei. “Offering a seamless payment experience while protecting against fraud has always been at the core of our business offering, and we feel that combining the power of two pioneering payment leaders delivers a truly groundbreaking solution that will benefit retailers targeting local, regional and global markets alike.”
In addition to its fraud prevention capabilities, Forter’s partnership with Nuvei provides merchants with a global solution that meets regional and country-specific compliance requirements, including 3-D Secure (3DS) and other SCA methods for PSD2.
About Forter
Forter is the leader in e-commerce fraud prevention, processing over $200 billion in online commerce transactions and protecting over 800 million consumers globally from credit card fraud, account takeover, identity theft, and more. The company’s identity-based fraud prevention solution detects fraudulent activity in real-time, throughout all online consumer experiences.
Forter’s integrated fraud prevention platform is powered by its rapidly growing Global Merchant Network, underpinned by predictive fraud research and modelling, and the ability for customers to tailor the platform for their specific needs. As a result, Forter is trusted by Fortune 500 companies, including ASOS, Nordstrom, Instacart, and Priceline to deliver exceptional accuracy, a smoother user experience, and elevated sales at a much lower cost. Forter was recently named the Leader in e-Commerce Fraud Prevention by Frost & Sullivan.
Forter is backed by $225M of capital from top-tier VCs including Sequoia, Bessemer, Scale, and Salesforce.
About Nuvei
We are Nuvei, the payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform offers direct connections to all major payment card schemes worldwide, supports over 450 local and alternative payment methods and 150 currencies. Our purpose is to make our world a local marketplace. Learn more at www.nuvei.com.
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