Swiss mobile wallet Twint uses NetGuardians for its anti-fraud software.
Twint has chosen Swiss anti-fraud FinTech as its provider, according to a NetGuardians press release on Tuesday. This is due to its ability to “monitor, process and store large volumes of transactions in real-time while providing the best possible protection for Twint’s customers” (January 10).
The NetGuardians platform will be deployed to detect suspicious payments using behavioral analytics, machine learning and artificial intelligence, the statement said.
“This is more than a new contract for NetGuardians,” said Joël Winteregg, co-founder and CEO of NetGuardians. “This is a perfect example of two Swiss FinTechs working together to become leaders in their respective fields and to make Swiss payments faster and safer.”
Critically for Twint, the software helps detect fraud while minimizing false positives, helping reduce user friction.
As Twint CEO Markus Kilb recently explained to PYMNTS, enabling frictionless payments when it comes to mobile wallets is part of the company’s broader purpose to make life easier for its users.
“We strive to make payments easier for our clients,” said Kilb. “We make it more convenient. We try to bundle services around ourselves. [lives] Easier. “
In addition to building security and anti-fraud features into its services in a way that does not compromise the user experience, Twint also focuses on creating value-added services related to users.
“Twint isn’t just about payments, it’s also about payments, or what we call ‘beyond payments,’” Kilb explains.
Kilb explained how users of the Twint app can easily purchase various products and services from the Twint+ marketplace. There you can buy insurance policies, mobile phone contracts and even parking tickets.
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