Think about the last time you shopped online. It was easy and fast, right?
But behind the scenes, there’s always a threat of ecommerce fraud. It’s like having invisible thieves trying to sneak through. That’s where real-time ecommerce fraud prevention software comes in.
That’s why we’ve compiled the top 15 e-commerce fraud prevention software. They’re the security that works around the clock to keep your business and customers safe. Get ready to discover how these amazing tools can protect your online stores.
What is Ecommerce Fraud Prevention Software?
Ecommerce fraud prevention software is a collection of tools that help companies prevent and detect eCommerce fraud. It assists enterprises in monitoring their channels for possible fraud, detects and inhibits fraudulent activity, and informs them of problems as they occur.
Think of this software as a set of tools that work together to protect a business from fraud in online sales. It’s always watching over the transactions, ready to spot and stop any suspicious activity. This helps keep the online store safe from scammers who try to trick the system.
What’s great about this software is that it doesn’t just wait for fraud to happen; it’s always on the lookout for any signs of trouble. It’s like having a detective who informs the store about any strange activities or potential threats. This means businesses can be more prepared and avoid being caught off guard by new tricks from fraudsters.
15 Best Fraud Prevention Software
There are a number of top eCommerce fraud prevention software options available in the current market. However, the ones that stand out the most are likely to be those that can identify and prevent malicious activity before it has a chance to happen.
1. ClearSale
ClearSale is the most comprehensive eCommerce fraud protection solution on the market today. It’s a cloud-based platform that helps you protect your business from all types of online fraud, including unauthorized credit card transactions, fraudulent orders, and more.
In addition to its robust fraud protection features, ClearSale also offers a number of other benefits, like real-time visibility into your sales and customer data, automatic order tracking and shipping notifications, and more.
Overall, ClearSale is the perfect solution for businesses looking to protect their eCommerce operations from fraudsters.
Pros
- Wide selection
- Easy to use and navigate
- Low fees
Cons
- Hard time validating an order
- Not allow the autonomous download of reports
Pricing
- Available upon request
2. Signifyd
With Signifyd’s crew, you’ll be in great hands. Two engineers, who had worked at PayPal, decided to focus fraud software development on large corporate Ecommerce clients after leaving the company. Revenue Protection, Abuse Protection, and Payments Optimization are three products that Signifyd now supports 10,000 online businesses globally.
They automate chargeback protection via a chargeback-guarantee model, where they assume payment for chargeback admin fees, and their products are specifically geared toward high volumes of transactions. eBay, Illy, Birkenstock, and Samsung are among the notable Signifyd clients.
Pros
- Chargeback prevention is automated, eliminating the need for credit card payments.
- Other eCommerce fraud mitigation issues are covered
Cons
- No real-time data
- Conflict of interest
Pricing
- Based on your request
3. Riskified
With a machine learning platform powered by a worldwide merchant network to minimize fraud and maximize net revenue, supported by true chargeback protection and premium partnership models, Riskified is the market’s smartest and most precise eCommerce prevention software.
Riskified verifies millions of transactions every day thanks to our platform’s coverage of more than 400 million consumers in 180+ countries. Our platform gets smarter with each transaction because this data is fed back into our system. All of this data benefits our merchants, not just the information in their own database.
The company has created a comprehensive portfolio of services to safeguard and assist merchants across the whole customer cycle, in addition to our powerful Chargeback Guarantee product. They are willing to assist merchants navigate and stay ahead of the quickly changing world of eCommerce fraud with our Account Secure, Policy Protect, and Payment Optimization solutions.
Pros
- The user interface is straightforward.
- Accurate identification of fraudulent purchases.
- guarantee approved orders in case of fraud
Cons
- Needs graphical linked accounts overview
- Sometimes red flags are not correct
Pricing
- Based on your request
4. SEON
Being transparent, granular, and industry-agnostic are all qualities of SEON. SEON offers comprehensive data enrichment based on an email address, IP address or phone number, as well as a way to check 50+ social media and internet networks for related user information that will show your consumers’ true intentions.
Several companies even employ SEON as an additional layer of data enrichment protection (accessible via a Chrome plug-in, among other things) thanks to the API calls’ flexibility.
You also have complete control over the risk rules, and a powerful machine-learning engine will suggest them based on your historical business data. Patreon, Air France, Avis, Ladbrokes, and LeoVegas are just a few of the notable SEON customers.
Pros
- Fully modular solution
- Free trial
- Transparent pricing
Cons
- No on-sight integration
- No IDV check
Pricing
- Start at $0/month
5. NoFraud
NoFraud is an eCommerce fraud prevention software and checkout solution that protects businesses from fraudsters, eliminates chargeback losses and provides smoother, more frictionless checkout experiences for trusted shoppers.
NoFraud checks every order for fraud indicators in real-time, and it works straight with your eCommerce system. They provide a simple pass-or-fail decision for every transaction using a mix of advanced algorithms and active human review, so you never have to manually review orders or monitor fraud scores.
With NoFraud Checkout, you can boost conversions by designing a checkout experience that is beautifully designed to put reputable customers on the fast track.
With one click, any shopper in the NoFraud network can autofill their information, with no tedious account creation required. NoFraud Checkout automatically varies the number of input fields for each person based on customer risk factors. Riskier customers must supply more information, while more dependable consumers are processed swiftly.
Pros
- Quick and consistent review of pricing
- Friendly to user
Cons
- The fee structure is % based on sales which get expensive when scaling up
Pricing
- Based on your request
6. Sift
Sift, which was founded in 2011 and is now worth $1 billion, received investment from startup accelerator Y Combinator. They cover 34,000 websites and apps, including well-known companies like Airbnb and McDonald’s, for fraud protection.
A Digital Trust and Safety Suite, which combines all the individual API tools into one comprehensive solution, is one of its main offerings. After that, there is a module that allows you to enable 2FA at the same time and is specially built to verify users and prevent ATO attacks.
Sift provides a Payment Protection service that uses the information from its worldwide network for all of your chargeback problems. Machine learning creates new risk criteria and analyzes payment information in real-time.
Lastly, when going through a chargeback resolution procedure, you may also buy the Dispute Management module, which will help you monitor and record as much data as feasible. Airbnb, McDonald’s, and Doordash are among Sift’s clients.
Pros
- Strong enterprise focus
- Chargeback resolution module
- Content security add-on
Cons
- Blackbox AI
- No free trial
- No real-time social media checks
Pricing
- Available upon request to the sales team
7. Kount
Kount was founded by Brad Wiskirchen after he came up with the concept “on the back of a napkin over a sushi meal,” and it quickly expanded into a fraud-detection colossus with 9,000 clients across the globe. In early 2021, Equifax purchased the company.
Kount caters to corporate clients such as Barclays, PetSmart, Staples, and Chase, among others. It specializes in cutting-edge risk technology (it owns 30 patents). Via Kount Command, they provide everything you need for CNP (card not present) monitoring and protection.
To verify your identification, you’ll need to purchase access to the Kount Identity Trust Global Network, which has been capturing data from 32 billion user interactions every year for the last 13 years. Kount Central is a payment processing solution, whereas Kount Control is an account takeover prevention solution that works with Barclays and Chase.
Pros
- Strong chargeback prevention
- Protect the whole customer experience
- Customizable solution
Cons
- No phone or media check
- Nontransparent pricing
Pricing
- Based on your request
8. Ekata
Ekata Inc., a Mastercard company, empowers businesses to enable frictionless experiences and combat fraud worldwide. The Ekata Identity Engine, which combines sophisticated data science and machine learning to help businesses make fast and precise risk judgments about their consumers, is the foundation of their identity verification products.
Businesses can securely and privately verify customers’ identities while maintaining privacy using Ekata’s solutions. Their tools help more than 2,000 organizations and partners fight cybercrime while creating a seamless, frictionless experience for consumers in over 230 countries and territories.
Pros
- A thorough manual review method
- Easily recognition
Cons
- Expensive, lengthy contracts
- No real-time data analysis.
Pricing
- Available upon request to the sales team
9. TruValidate
TruValidate (previously TransUnion and Iovation) is a well-established iGaming fraud prevention specialist that has been operating since 2004.
They are best remembered for their device recognition technology, which is used by iGaming companies to verify users and is essentially the defacto fraud detection software. The fintech, credit union, healthcare, and eCommerce industries are also using the software.
Authentication software, document verification using a proprietary database, and biometric validation are among the company’s key products. Kaidee, Playcherry, and Gocompare.com are among the companies represented by TruValidate.
Pros
- Users connecting to your website rely on the configurations of software and hardware.
- iGaming specialization
Cons
- No real-time data collection
- No free trial
Pricing
- Based on your request
10. CyberSource
The hopes for this program are naturally great since it is Visa’s proprietary fraud solution. When Ecommerce became a reality in 1994, CyberSource established itself as an early adopter of online payment, then substantially expanded its scope by buying Authorize.net in 2007.
CyberSource provides four core modules to combat payment fraud, all of which are run by Visa’s Decision Manager software and processed 2.2 billion transactions in the past year. Automated end-to-end service for Ecommerce payments is provided by these major payment acceptance, fraud management, payment security, and unified commerce payment solutions modules coming together.
In addition, the integrated payment solution offers companies flexibility in switching between payment systems like BNPL and fraud protection for new forms of payment currency.
With functionality for currency conversion, worldwide tax compliance, and customer lifetime management, other granular modules in the suite are also aimed at assisting merchants to expand their reach. Zoom, Rimowa, and Colgate-Palmolive are among Cybersource’s clients.
Pros
- Software modules dedicated to growth
- Interactive data analysis
Cons
- Concentrate on large businesses
Pricing
- To get a price from Cybersource, you’ll need to get in touch with the sales staff as the company does not presently provide its pricing online.
11. FraudHunt
FraudHunt was created to offer emerging countries a light and cost-effective fraud prevention technology. To do so, the data analyst and developer team created a platform that offers a dynamic security solution for Ecommerce marketplaces of all sizes and industries, including well-known clients Crediexpress and DataBrain.
FraudHunt’s risk management solution is based on using risk factors in their device and browser fingerprint to evaluate incoming traffic. Each user’s score is computed based on whether or not they successfully flip certain switches, such as proxy detection and the recognition of data from operating systems, browsers, and their shopping behaviors inside the marketplace.
Each lookup is then assigned a score to segment the traffic into quality, low-risk, or potentially fraudulent customers. The software creates a real-time score based on lookups performed throughout the customer journey.
Pros
- Relative low pricing
- Possibilities for integrating Google Analytics and an easy-to-use reporting tool.
Cons
- Not the best for growing enterprises
Pricing
- Bronze plan prices start at $25 per month and go up to $2,500 per month for up to 10 million unique users.
12. Accertify
The American Express company’s eCommerce fraud prevention software is Accertify, which touts itself as a true end-to-end fraud solution provider, from customer authentication to SCA optimization, and even chargeback management for those inevitable occurrences.
Accertify is one of the prevention solutions with the most legacy available today, having processed its first transaction almost 15 years ago. Several of its clients were start-up brick-and-mortar businesses that chose to turn to a recognized credit provider for reassurance as they grew larger and added eCommerce services.
Accertify Digital Identity is the name of the company’s primary fraud detection mobile. Machine learning algorithms use community user behavior analytics and device intelligence to predict how to label each user in order to generate insights.
This is complemented by chargeback and reputation data from across the eCommerce ecosystem, which Accertify uses to inform its day-one tactics in order for results to be observed as soon as possible. Southwest Airlines and StubHub are two prominent Accertify clients. Urban Outfitters and Torrid are two stores nearby.
Pros
- Dynamic automation
- Huge databases
Cons
- No social media augmentation
Pricing
- Contact the company for more information
13. ThreatMetrix
ThreatMetrix was founded in Australia in 2005 and acquired by LexisNexis Risk Solutions, which also includes Emailage. ThreatMetrix’s trust decisions and fraud detection are informed by 78 billion records, with 270 million transactions being processed and analyzed every day.
ThreatMetrix uses the massive databases of LexisNexis’ parent firm, RELX Group. With modules covering device intelligence, identity authentication, community-based data enrichment, behavioral biometrics, and automated decisions, the software suite’s main products are intended to be a comprehensive fraud prevention platform.
ThreatMetrix provides services that can meet the needs of various industries and large-scale enterprises in particular at the contract level. SunTrust Banks, United Healthcare, and The North Face are among the companies that use ThreatMetrix, according to sources.
Pros
- Consortium ThreatMetrix
- In-person integration
Cons
- A component of a bigger software portfolio
Pricing
- Based on your request
14. Arkose Labs
Arkose Labs offers a comprehensive solution to some of the most challenging online threats faced by enterprises today. This includes a wide range of nefarious activities such as credential stuffing, account takeovers, SMS Toll Fraud, and reverse proxy phishing scams.
These threats are often carried out by automated bots and sophisticated human-driven operations. Trusted by major B2C companies like Microsoft, Roblox, Zilch, and Pitney Bowes, Arkose Labs’ platform is designed to effectively eliminate these threats.
The platform achieves this by combining real-time risk classification with dynamic challenges, primarily using advanced CAPTCHAs to thwart both bot and manual fraud attempts. Its invisible risk assessment allows legitimate users smooth access, while high-risk traffic encounters targeted challenges.
Pros
- Stopping a wide range of attacks
- Secure online experience
- Unparalleled insights into threats
Cons
- Cost is on the higher side
Pricing
- Based on your request
15. Nethone
Nethone is a comprehensive risk detection product, designed to protect online businesses throughout the entire user journey, from onboarding to post-payment. Using its advanced Know Your User (KYU) profiling technology and AI-powered tools, Nethone excels in identifying and blocking risky users while ensuring a frictionless experience for legitimate customers.
The software is adept at monitoring and preventing over 100 types of fraudster tactics across websites and mobile apps, converting this data into real-time, actionable recommendations. Nethone’s approach is modular, offering end-to-end protection against various forms of fraud including account takeovers, bot attacks, promo abuse, and even money laundering schemes.
Pros
- Comprehensive User Protection
- KYU Profiling Technology
Cons
- Limited Reporting Features
- Niche Specialization
Pricing
- Essential Plan: Starts at a minimum of €300 monthly, offering API-based fraud prevention and includes 20k requests per month at €0.03 per request.
- Standard Plan: Also starting at €300 monthly, this plan provides omnichannel screening with over 100 named fraud risks, maintaining the same request quota and pricing as the Essential Plan.
- Premium Plan: Tailored for businesses seeking customized solutions, offering bespoke ML models, a dedicated customer success manager, and a data scientist. The quota is unlimited, and the pricing is individualized.
- Individual Plan: Pricing is discussed based on specific needs and requirements.
How to Choose Ecommerce Fraud Prevention Software
Selecting the right ecommerce fraud prevention software can be a game-changer for your online business. It not only protects you from financial losses but also builds customer trust. Here are key factors to consider:
1. Understand Your Needs
Different businesses face different types of fraud. Identify the most common fraud risks in your industry and choose software that addresses those specifically.
The size and volume of your transactions can also dictate the type of software you need. Larger volumes may require more robust, automated systems.
2. Integration and Compatibility
The software should easily integrate with your existing ecommerce platform and other tools without extensive modifications. With the increasing use of mobile devices for shopping, you also need to ensure the software works seamlessly on mobile platforms.
As your business grows, your fraud prevention system should scale accordingly. Consider future growth when making your choice.
3. Cost
Understand the pricing structure – is it per transaction, monthly, or annually? Watch out for hidden costs.
Evaluate the return on investment. Cheaper solutions may not always be cost-effective in the long run if they fail to adequately protect your business.
If possible, use trial periods or demos to test the software in your environment. This can help you make a more informed decision.
By considering these factors, you can choose an ecommerce fraud prevention software that not only meets your current needs but also supports the future growth and security of your business.
