- Scalapay collaborates with Trustfull to enhance fraud prevention across Europe’s growing BNPL market.
- Trustfull’s identity intelligence platform detects synthetic fraud, ensuring secure transactions for merchants and customers.
What happened: Scalapay secures BNPL with new fraud prevention partnership
Scalapay, a Milan-based buy now, pay later (BNPL) provider, has joined forces with Trustfull, an identity intelligence platform, to address fraud risks in the growing European BNPL market. This collaboration aims to enhance security measures across Scalapay’s payment network while maintaining its promise of flexible and interest-free instalments for customers.
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Scalapay, which launched in 2019, offers a seamless shopping experience through interest-free instalments, making purchases more accessible for millions across Europe. The company’s latest move to bolster fraud prevention comes at a time when the BNPL market in Europe, valued at $147.6 million in 2023, is forecasted to nearly double to $272.5 million by 2029.
Trustfull brings to the table a sophisticated analytics platform that evaluates digital signals such as email addresses, phone numbers, and IP data. This enables Scalapay to detect fraudulent activity in real time, particularly synthetic identity fraud, where false credentials are used to bypass verification. By integrating these tools, Scalapay ensures safer transactions for its extensive merchant network and end users alike.
Why this is important
The partnership reflects an ongoing need to secure digital transactions as the BNPL industry continues to expand rapidly. With consumer adoption growing, so do risks associated with fraud, and companies like Scalapay are under pressure to safeguard their platforms without compromising user convenience.
Fraud prevention is crucial in retaining consumer trust, especially in a sector driven by affordability and accessibility. By leveraging Trustfull’s technology, Scalapay not only mitigates the risks of payment defaults but also reinforces its position as a reliable player in the European financial landscape.
Moreover, the partnership showcases how collaboration between fintech providers and security firms can tackle sophisticated threats like synthetic identity fraud. With the BNPL model reliant on quick approvals and minimal barriers, implementing robust fraud detection measures ensures the ecosystem remains viable for both consumers and merchants.
As the European BNPL market evolves, such alliances are likely to shape how financial services balance innovation with security, ultimately benefiting customers with safer and more flexible payment options.
