Ai driven Fraud Prevention
Our soultions scale horizontally to millions of users without changing the software.
We use mini models, global signals and an ensemble of AI algorithms to accurately profile fraudulent behaviour.
Prevent fraud and abuse for your web-scale business with real-time machine learning.
Fraud is as old as Commerce, with E-Commerce becoming popular fraud has also adopted to the new digital avatar. Fraud management is an essential component of running an e-commerce business because it is intrinsically connected to a merchant’s bottom line. Fraud is bad for the whole ecosystem, merchant, customer and payment gateway. The frauds plaguing Indian ecom-universe are
Cost of Fraud, Fraud Detection & Fraud Prevention is one of the key barriers for both emerging and established ecom players. Real cost of fraud entails.
An order to submit for review. Only _userID is required field. But this should contain order info.
Mitra supports both customized and standard API integration. It has plug and play SDKs for Magento and other platforms that includes Java, Python, and/or PHP.
Average integration time varies 45 minutes to a couple of days.
MITRA leverages the power of big data technologies and machine learning to analyze all the parameters of transaction. Once it has all the data it maps the same with our proprietary algorithms derived from historical data to arrive at a risk score of the customer. It then flags the suspicious transactions.
We ensure all the risky transactions are auto-blocked. All suspicious items either resides with your Supply Chain Management system or listed in the ThirdWatch panel. Rationale/Business logic for Risk Score is also shown.
For example, multiple transactions happening from one IP address or multiple account logins taking place from the same device or suspicious email addresses or an unsafe shipping address.
Final decision to process/decline order resides with the customer. If after reviewing, the reasons of blocking the order, the customer decides that the order has been mistakenly blocked or blocked in error he can easily approve the same from the dashboard itself and process the order.
Overcart sells verified unboxed, refurbished and second hand mobile phones and other electronic items. India still primarily a cash on delivery (COD) market. Overcart has a unique problem of very high rate of return to origin(RTO) on COD orders. They were not only losing money in forward and reverse logistics on RTO orders but also the item was in logistics for over a month, during which sometimes it becomes obsolete. After integrating with ThirdWatch they have seen RTO percentage decrease by over 80%.
Payfull is a payment gateway based out of Istanbul, Turkey. Their customer were facing the problem of transactions from stolen credit cards and friendly fraud wherein the customers themselves did the transaction however after receiving the item file chargeback request with the credit card company resulting in huge losses. The challenge was evaluating a transaction in less than 200 milliseconds. After integrating with ThirdWatch, Payfull was able to block 98% of repeat offenders and 60% of first time fraudsters.
Kuberbox is a jewellery ecommerce site was facing different challenges of getting high percentage of return to origin transactions and cases of return requests with fraudulent customers returning imitation jewellery were increasing. They had to block broad customer segments like entire regions to prevent fraud however were losing legitimate customers in the process and was resulting in fraud customer experience. After integrating with ThirdWatch Decline rate improved by 50%, fraud chargebacks decreased by 65%.
Mitra’s AI keeps on evolving and becoming more intelligent as it sees and grasps more and more transactions.
We engage with our partners from the first phase. Starting from the time the user creates the account to when he does and completes a transaction.
We empower and engage with our partners with tools and teach them to identify fraudulent users and at the same time protect and respect genuine users.
We understand the importance of real time customer communication and experience. We ensure that the experience of genuine customers is never compromised. Mitra gives risk score in milliseconds.
Fraud is inherent in all forms of business but when it comes to digital it amplified because there is no face or voice attributed to the consumer.. Mitra is designed to give anonymous buyer faces and fingerprint.
What matters is the bottom line, so we make sure that you can clearly see the reduction in fraud losses in hard numbers. Don’t believe us? Try for yourself! We give two-months of free trial so that you see, know, and believe that our product pays for itself.
Artificial intelligence-driven e-commerce fraud prevention startup ThirdWatch has raised an undisclosed angel funding, led by Rahul Agarwalla from the Indian...
The Indian e-commerce ecosystem is quite unique. Unlike mature markets in US /Europe the most popular payment method is an Indian ‘Jugaad’ — cash-on-delivery (COD)...
ThirdWatch is backed by top angels investors of India. It has a team of young, dynamic people who believe in the principle of “If you think you can do it, you can”. Looking for passionate people who believe in making internet a safer place to transact. In language of Zen if you believe in “If anything is worth doing, do it with all your heart” write to us, we will have a great ride together.