March 1, 2022
WiPay, the Caribbean’s leading online payment facilitator, has chosen Fraudios’ technology as an intelligent solution for fraud management. WiPay continues to put a strong emphasis on security and fraud prevention as it develops its user base and enters new markets.
“As a technology leader in the space, we accept that innovative technology brings new opportunities as well as threats. Cybersecurity has always been at the forefront of all WiPay’s solutions. Fraudio adds an additional layer of protection for our customers and our customers’ customers. This investment is just another of our proactive steps that WiPay has taken to ensure the safety of our platform. “– Aldwyn Wayne, CEO @ WiPay.
John Mollenthiel, the Chief Strategy Officer of WiPay adds:
“Of all the technologies that we researched, Fraudio took fraud prevention a whole step further by employing artificial intelligence. Any technology that WiPay invests in is assessed on at least four components: functionality, scalability, adherence to industry standards and future roadmap. Fraudio checked all the boxes. Their use of artificial intelligence to detect fraud by both consumers and merchants offered a level of sophistication that we had not seen with other fraud prevention solutions. Our merchant and consumer footprints are growing rapidly, so investing in a technology that could learn and move beyond human limitations, is a demonstration of WiPay’s commitment to protecting its customers.”
Gadi Erel, VP of Sales at Fraudio, also adds:
“When we built our company we dreamed of democratising fraud prevention. WiPay is democratising payments and is leading innovation in a region that has been underserved for too long. We are extremely proud of our collaboration with WiPay and being able to provide their customers with the opportunity to operate a healthy business and help the Caribbean thrive.”
WiPay, the Caribbean’s leading online payment facilitator, currently serves tens of thousands of merchants with hundreds of millions in processing annually. WiPay is currently regarded as the premiere alternative payments company in the region: Trinidad and Tobago, Jamaica, Guyana, Saint Lucia, Barbados and Grenada. WiPay designs and develops financially inclusive payment solutions that address the key payment challenges facing governments, organizations and businesses of all sizes.
Fraudio is an Amsterdam based scale-up helping companies in the payment ecosystem fight payment fraud and financial crime with its unique ability to build high performing AI and ML models without costly customisation. Trusted by some of the fastest-growing companies in the world, protecting them from payment fraud, merchant-initiated fraud and money laundering.
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