Scalapay and Trustfull have announced a partnership aimed at enhancing fraud prevention across Scalapay’s European BNPL operations.
Scalapay, a leading BNPL provider based in Milan, offers interest-free instalment payments, enhancing financial accessibility for millions of customers. Trustfull, specialising in Identity Intelligence, provides crucial insights into fraud prevention, distinguishing between legitimate customers and potential fraud risks with its advanced analytics platform.
The partnership between Scalapay and Trustfull addresses a growing need for robust fraud prevention mechanisms within the rapidly expanding European BNPL market, valued at $147.6m in 2023 and expected to rise to $272.5m by 2029. This collaboration aims to leverage Trustfull’s innovative platform to proactively identify and mitigate fraud risks, ensuring secure transactions across Scalapay’s extensive merchant network.
Scalapay has established itself as a prominent figure in the European financial sector since its inception in 2019. The company is renowned for its commitment to making shopping more affordable through flexible payment solutions, while also prioritising consumer safety and convenience.
On the other hand, Trustfull utilises a sophisticated Identity Intelligence engine to analyse a multitude of digital signals, including email addresses, phone numbers, and IP data. This technology enables real-time risk assessment, helping to pinpoint synthetic identities and prevent fraud, thereby maintaining a seamless shopping experience for users.
Additional details about the partnership highlight the enhanced security measures being implemented, which are crucial for protecting against sophisticated fraud tactics such as synthetic identity fraud. Both companies are dedicated to improving their fraud prevention capabilities to adapt to evolving threats in the BNPL sector.
Ana Milena Fernandez, CRO at Scalapay, commented: “With Trustfull’s technology, we are enhancing our proactive fraud prevention controls within our online applications to keep reducing first payment defaults. This partnership aligns with our goal to provide fast, convenient, and secure payment alternatives to all stakeholders involved, including merchants and end customers.”
Marko Maras, CEO of Trustfull, added: “The Trustfull team is looking forward to supporting Scalapay’s mission of making payment flexibility accessible to everyone, without compromising security. Our solutions will empower Scalapay to offer a seamless and secure experience to its customers, all while minimizing risk exposure and protecting the company from potential losses due to fraudulent applications.”
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