Best Fraud Protection Software
Fraud Protection, or Fraud Management, software helps e-commerce businesses detect high-risk transactions and analyze risk factors in order to prevent and reduce fraudulent customer behavior. Fraud protection software reduces e-commerce businesses’ susceptibility to fraudulent product orders by applying algorithm-based analysis to data sources to assess the potential risk of each transaction. E-commerce businesses are particularly susceptible to fraudulent and suspicious transactions because orders are placed on a website or mobile device. Fraud prevention software analyzes information from many sources before recommending approval or rejection of customer profiles. The software identifies anomalies and prevents potential chargebacks and lost revenue. Fraud protection software integrates with e-commerce platforms and behavioral and predictive analytics software.
To qualify for inclusion in the Fraud Protection category, a product must:
- Proactively monitor for possible fraudulent or high-risk activity
- Identify and analyze customer purchasing behavior
- Comply with regulations and standards of evaluating fraud.
- Protect sensitive and confidential customer information.
- Have a process that authenticates, approves, or declines high-risk activity
Fraud Protection Software Grid® Overview
The best Fraud Protection Software products are determined by customer satisfaction (based on user reviews) and scale (based on market share, vendor size, and social impact) and placed into four categories on the Grid®:
- Products in the Leader quadrant are rated highly by G2 Crowd users and have substantial Market Presence scores. Leaders include: Zonos
- High Performers are highly rated by their users, but have not yet achieved the market share and scale of the Leaders. High Performers include: SoftwareKey Licensing System
- Contenders have significant Market Presence and resources, but have received below average user Satisfaction ratings or have not yet received a sufficient number of reviews to validate the solution. Contenders include: iovation
- Niche solutions do not have the Market Presence of the Leaders. They may have been rated positively on customer Satisfaction, but have not yet received enough reviews to validate them.