ATLANTA, March 18,
2024 /PRNewswire/ -- Equifax® (NYSE: EFX) has joined
forces with VTEX (NYSE: VTEX), the composable and complete commerce
platform for premier B2C and B2B brands, to help fortify
fraud prevention capabilities for merchants across the
globe. This strategic partnership, which started in 2023, combines
the fraud detection and prevention expertise from
Equifax with the robust VTEX commerce platform, empowering
enterprise customers to better secure their businesses while
delivering unmatched customer experiences.
The collaboration enables customers on the VTEX platform to
seamlessly integrate with the Equifax Kount Payment
Fraud solution, an advanced anti-fraud
solution that is used by more than 20,000 businesses operating in
over 40 countries around the world to better engage with their
customers while combating fraud. The integration is
designed to offer real-time fraud protection during
payment events, helping to safeguard transactions without
disrupting the checkout flow. This includes:
- Scalable Artificial Intelligence-based decisioning and
flexible business policies tailored to the needs of customers,
financial institutions, and other businesses that conduct digital
customer interactions.
- Access to an industry-leading global network that delivers a
proprietary set of Equifax digital and physical identity data
attributes that is bolstered by more than 60 billion annual
transactions.
- Robust reporting and analytics capabilities that deliver
actionable insights for businesses of any size.
VTEX, one of the world's most recognized digital commerce
platforms trusted by 2,600 customers across 43 countries,
recognizes the value of equipping its merchants with sophisticated
anti-fraud tools. "As enterprise businesses navigate
the evolving commerce arena, heightened cybersecurity is
undeniable. It's not just a shield against potential threats; it's
the bedrock of sustainable success," said Santiago Naranjo, CRO at VTEX. "Our partnership
with Equifax showcases our unwavering commitment to cybersecurity,
bolstered by a focus on enhancing trust in every transaction. Our
partnership isn't just about protection; it's about continued
prosperity of customers worldwide."
The partnership aligns with the rising demand for robust
fraud prevention measures globally in the e-commerce
landscape. Worldwide e-commerce fraud is increasing,
with enterprise losses from online payment fraud
expected to exceed $362 billion
between 2023 to 2028. With the rise of e-commerce orders,
enterprises are increasingly vulnerable to various forms of
fraud, including card testing, phishing, identity
theft, and more. The collaboration between Equifax and VTEX
addresses this challenge head-on, providing customers with advanced
tools to combat fraud and help protect their
revenue.
"While merchants can benefit from the rapid adoption of
e-commerce to achieve significant revenue growth, they're also
faced with increased rates of digital fraud and
chargebacks," stated Adam Gunther,
Senior Vice President and General Manager of the Digital Solutions
team at Equifax. "The strategic partnership we've forged with VTEX
exemplifies our commitment to enabling merchants globally with
advanced technology to efficiently secure online transactions,
protect and recover revenue, deliver great customer experiences,
and focus on their core business rather than
fraud."
The Equifax commitment to empowering businesses with
industry-leading Artificial Intelligence and Machine Learning
technology, real-time fraud protection, and
customizable solutions is at the core of this partnership. As
merchants face the evolving landscape of fraud, the
Equifax and VTEX partnership offers a proactive approach to
minimizing false positives, improving fraud capture
rates, and ensuring secure payment experiences.
"When faced with a fraud issue, time is of the
essence, and dedicating weeks to development is simply not
feasible," said Cody Stapleton,
Co-CEO & Chief Commercial Officer, Jeffers Pet. "The seamless
integration of the Kount Payment Fraud Solution within
the VTEX platform proved to be remarkably efficient, swiftly
addressing a cybersecurity gap that we were acutely aware of. We
were operational within just one hour."
To learn more about the partnership between VTEX and the Digital
Solutions team at Equifax, click here.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe
knowledge drives progress. As a global data, analytics, and
technology company, we play an essential role in the global economy
by helping financial institutions, companies, employers, and
government agencies make critical decisions with greater
confidence. Our unique blend of differentiated data, analytics, and
cloud technology drives insights to power decisions to move people
forward. Headquartered in Atlanta
and supported by nearly 15,000 employees worldwide, Equifax
operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia
Pacific region. For more information, visit Equifax.com.
ABOUT VTEX
VTEX (NYSE: VTEX) is the enterprise digital
commerce platform where forward-thinking CEOs and CIOs smarten
up their investments. Our composable and complete platform helps
brands and retailers modernize their stack and reduce maintenance
costs by rapidly migrating from legacy systems, connecting their
entire value chain, and making inventory and fulfillment their
strength.
As a leader in digital commerce, VTEX is trusted by 2,600
B2C and B2B customers, including Carrefour, Colgate, Motorola,
Sony, Stanley Black & Decker,
and Whirlpool, having 3,500 active online stores across 43
countries (as of FY ended on December 31,
2023). For more information, visit www.vtex.com.
FOR MORE INFORMATION:
Meg Mariani
for Equifax
mediainquiries@equifax.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/equifax-and-vtex-join-forces-to-enhance-fraud-protection-for-customers-worldwide-302090656.html
SOURCE Equifax Inc.