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Fraugster and Refurbed Partner to Increase Approval Rates and Reduce Fraud for Refurbished Electronics Marketplace

Fraugster and Refurbed Partner to Increase Approval Rates and Reduce Fraud for Refurbished Electronics Marketplace

Collaboration provides deeper insights into consumer electronics and online marketplace fraud trends

 Fraugster, a German-Israeli AI payment security company and refurbed, one of Europe’s fastest growing marketplaces for refurbished electronics goods, announce their collaboration to approve more transactions and reduce fraud.  The partnership will ensure that customers and sellers are safe from fraudulent attempts, without introducing friction into the customer experience.

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Refurbished Electronics marketplaces are growing rapidly as consumers look to reduce their carbon footprint by purchasing renewed smartphones, tablets, laptops and wearables. However, these high value items are also highly desirable to fraudsters because they are easy to ship and resell.

Refurbed’s founders, Peter Windischhofer and Jürgen Riedl, say “We have opted for Fraugster’s Managed Services solution so that we can focus on offering the best refurbished product assortment to our customers.  Fraugster’s biggest differentiator is their AI data enrichment, which provides us with deeper insights into customer behaviour in consumer electronics and online marketplaces, and will allow us to make more accurate approval decisions. We are excited to work together to create a safe shopping environment for our customers and partners.”

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Fraugster Co-CEO, Christian Mangold says “We are delighted to be working with refurbed, who are pursuing an important mission to reduce the environmental impact of e-commerce. Our AI engine gives us a great deal of data and insight into consumer electronics marketplaces which we will apply to help them approve more transactions across a range of payment methods, including Buy Now Pay Later (BNPL). Our solution will enhance payment protection within their ecosystem without compromising convenience for customers, whilst helping them to scale operations.”

Refurbed joins a growing network of Fraugster customers covering consumer electronics from BNPL providers Billink and Ratepay to e-commerce marketplaces Eurostep and Diana Srl.

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[To share your insights with us, please write to sghosh@martechseries.com]

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