Equifax’s new Kount Essentials fraud detection and prevention application is now available on the Shopify store for merchants of all sizes. This award-winning fraud prevention capability has been specially designed to deal with the challenges that small businesses face. You can customise the technology according to your requirements.
In 2022, merchants lost $41 billion in payment fraud in global e-commerce. Industry analysts predict even worse. According to them, by the end of 2023, the figure will amount to $48 billion. A research study by ACFE claims that 54 percent of organisations are not able to recover the losses caused by fraudulent practices. Such activity has an adverse impact on small businesses as they cannot bounce back as quickly as big businesses.
Award-winning Fraud Prevention Technology
“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,” Adam Gunther, Senior Vice President and Chief Product Officer, at Equifax Digital Solutions said in a statement.
“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 are as adaptive as modern fraud threats,” he added.
Our unique blend of differentiated data, analytics, and technology lets us create the insights that power decisions to move people forward. We help businesses provide a seamless and positive experience during life’s pivotal moments — like applying for a job or mortgage, financing an education, or buying a car.
Equifax
The new Kount Essentials app has features that aptly meet the needs of small businesses:
- “Plug-and-play” installation and onboarding: Merchants can integrate Kount fraud services into their Shopify store without any hassles. All it needs is few clicks as the app gets directly installed in the admin. There is no requirement for coding for the integration.
- Immediate results: Equifax’s Kount fraud protection keeps its work going in the background as soon as it is installed.
- In-app decision: Merchants can check Kount Essentials on their Shopify dashboard, allowing them to do real-time data analysis easily.
Kount Essentials complements the Kount Advanced plan for Shopify. Other features include on-demand support and customizable policies, which Shopify merchants can leverage to stay protected from any fraudulent activities.
About Equifax
Equifax is a multinational consumer credit reporting agency based in Atlanta, Georgia, the United States. It is one of the three largest consumer credit reporting agencies. Established in 1899 as a Retail Credit Company, it was founded by Cator Woolford and Guy Woolford. By 1920, it set up offices across Canada and the United States. In the 1960s, it came up as one of the largest credit bureaus in the country.
Equifax has its presence in 24 countries across the world with more than 14,000 employees working for it. Besides credit and demographic data and services, it also directly sells credit monitoring to consumers.
“Our unique blend of differentiated data, analytics, and technology lets us create the insights that power decisions to move people forward. We help businesses provide a seamless and positive experience during life’s pivotal moments — like applying for a job or mortgage, financing an education, or buying a car,” Equifax states in the About Us section of its website.
