Global payment orchestration platform, FinMont, has announced a new partnership with fraud fighters Nethone. The partnership will see the company’s unique global payment ecosystem integrate with Nethone’s AI-powered tech to facilitate cutting-edge fraud prevention for online payments in the travel industry.
FinMont was recently launched by the founders of German airline Hahn Air to offer the travel industry a unique solution that, unlike others, streamlines both B2C and B2B payments. Combining both payment flows will remove reliance on only one payment provider and historical downtime issues, while also helping decision-makers identify and fix any inefficiencies in their current payment processes.
The platform’s ecosystem will not only connect acquiring banks, payment, fraud, forex, and chargeback providers but also integrate with ERP/CRM systems and other travel-specific distribution channels offering a complete payment ecosystem for the travel industry. This will help travel merchants use payments as a strategic tool to stand out from competitors by improving payment authorisation and conversion rates and reducing payment costs.
Nethone’s fraud prevention is an important part of this strategy, allowing for exhaustive profiling of every single user in real-time to stop any risky payments without negatively impacting legitimate customers with unnecessary friction. Their solution protects businesses against multiple types of online fraud, such as account takeover (ATO), chargeback fraud, BOT attacks and more, with no harm to the customer UX.
Suby Valluri, CEO of FinMont, commented: “We are delighted to be partnering with Nethone and incorporating their cutting-edge service into our global eco-system. They are true market leaders and offer an advanced AI solution that will ensure our partners and customers remain safe from fraud at all times.
As part of our global strategy, we will be integrating with leading acquirers, payment, fraud and other providers to offer a truly unique solution to the travel industry.”
Hubert Rachwalski, CEO of Nethone, added: “The team at Nethone is excited to be working with the founders of FinMont as they launch their global proposition for the travel industry. Our combined solution provides an exciting offer for the travel sector, which is focused on fighting fraud while helping to improve the overall service experience for merchants and their customers.
We are pleased to be able to integrate our award-winning fraud prevention solution across FinMont’s systems. We are confident that our experience in the travel industry will prove invaluable in achieving this goal.”
To find out more about the solution offered by FinMont visit – www.finmont.com
Press Contact: James Godfrey – press@agencykode.com About FinMont
Hahn Air Lines GmbH launched an innovation lab to address the specific payment needs of the travel distribution faced by the company and later created FinMont GmbH as a separate company to focus on specific travel payment needs. One of the key motivations for understanding the importance of payment orchestration came out in the aftermath of the Wirecard scandal, where the significant risks of being a merchant that relied on a single payment service provider were exposed. The FinMont solution has been developed to address the market need for a payment orchestration platform that solves the specific needs of the travel industry.
About Nethone
Nethone offers a proprietary machine-learning-based product designed to protect the entire user journey, from onboarding to post-payment, at the same time helping merchants to holistically understand their end-users (good and bad). With the award-winning Know Your User (KYU) profiling technology and AI-powered tools, Nethone blocks all risky users without friction to the good ones by exhaustively screening every single one. We are trusted by companies such as Azul, PLL LOT, BlaBlaCar and Distribusion to efficiently neutralize the top fraud risks in the travel sector: ATO, chargeback fraud, and promo & policy abuse. Nethone has been recognised as one of Europe’s fastest-growing companies in 2023 by The Financial Times newspaper and data provider Statista. We are also the highest ranked Polish company in the Fintech category.