SAN FRANCISCO, May 25, 2021 (GLOBE NEWSWIRE) -- Arkose Labs, provider of online fraud and abuse prevention technology, today announced a collaboration with PayPal to prevent security threats and fight fraud on its Honey shopping and rewards platform.
Honey by PayPal is a suite of free tools to help people save time and money when shopping online. From notifying shoppers when a price drops on select items, to helping them find the lowest price, Honey provides shoppers with the information that they need to shop with confidence. Honey has helped millions of people find more than $1 billion in savings in the past year.
“PayPal’s brand is built on the trust of our consumers and we take all steps to prevent fraud and abuse on an ongoing basis,” said Assaf Keren, VP, Enterprise Cyber Security at PayPal. “By collaborating with Arkose Labs, we continue to advance security and vigilance to a new level where merchants and consumers alike have even more confidence their transactions are safe.”
Global ecommerce companies trust Arkose Labs to defend against fraud and online abuse. The Arkose Platform classifies traffic based on the underlying intent of users and deploys appropriate countermeasures to remediate attacks in real-time. By going beyond stopping individual attacks, Arkose Labs delivers a long-term solution that deters fraudsters while enhancing good user experience.
Arkose Labs’ innovative approach to fighting fraud in the ecommerce space includes:
- New Account Registration Fraud: Streamlining the account sign-up process and preventing fraudsters from using stolen or fake user credentials to set up bogus accounts.
- Account Takeover (ATO): Stopping ATO of user accounts, which allows fraudsters to change user credentials, manipulate delivery schedules and make fraudulent purchases.
- Web Scraping: Protecting inventory information and other commercially sensitive data from malicious, automated scraping activity.
- Denial of Inventory: Preventing inventory hoarding from automated bots which add items to shopping carts to prevent legitimate purchases, in order to make money or disrupt a competitor.
- Card Testing: Detecting large-scale testing of stolen payment credentials on ecommerce checkout pages and preventing fraudulent gift card purchases.
- Credential Testing: Preventing automated scripts from abusing the login and sign-up forms to verify stolen credentials and perform credential stuffing attacks.
“Fraud detection and prevention has never been more important, and Arkose Labs enables ecommerce platforms to take a zero-tolerance approach to fraud and abuse on their websites and apps, while enhancing user experience and customer loyalty,” said Arkose Labs CEO Kevin Gosschalk. “We look forward to working with PayPal and the Honey team to tackle fraud and abuse in its different forms with an approach that embraces targeted friction combined with risk-based assessments.”
About Arkose Labs:
Arkose Labs bankrupts the business model of fraud. Recognized as a 2021 Cyber Defense Magazine “Hot Company in Fraud Prevention”, its innovative approach determines true user intent and remediates attacks in real time. Risk assessments combined with interactive authentication challenges undermine the ROI behind attacks, providing long-term protection while improving good customer throughput. Arkose Labs is based in San Francisco, Calif., with offices in Brisbane, Australia and London, UK. For more information, visit www.arkoselabs.com or on Twitter @ArkoseLabs.
About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering 375 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.
Media Contact:
Paul Wilke
arkose@uprightcomms.com
+1-415-881-7995