Cybersecurity Europe Fintech

Patreon to Utilise SEON Fraud Prevention to Stop Abuse on Subscription Platform

The fraud prevention start-up SEON, has announced its partnership with Patreon, the leading membership platform home to over 200,000 creators. The platform will be utilising SEON’s unique fraud prevention solution to help fight fraud and abuse on the platform supported by more than 6 million active patrons.

Launched in 2013, Patreon empowers membership businesses for creators by giving them the tools needed to acquire, manage, and energize their paying patrons and recently achieved unicorn status. The company follows a subscription-style payment model, where fans pay their favourite creators a monthly amount of their choice in exchange for exclusive access, extra content, or a closer look into their creative journey. However, while the internet has opened up new possibilities for creators to expand their audiences and to share their works, it comes with its challenges, such as internet breaches and the selling of data on the dark web.

By integrating SEONs solution via an API or chrome extension, Patreon will have near-immediate access to SEON’s services and will be able to skip the long integration times experienced when it comes to most fraud prevention tools. The company will have instant access to rich data taken from the email, phone number or IP addresses it gathers from customers, while also collecting all accessible data points about customers’ digital footprints from social media profiles, available via open sources in the public domain. This allows Patreon to identify which users are genuine and which accounts are fraudulent, protecting its customers and creators from online fraud.

Jacqueline Hart, Trust & Safety at Patreon, said: “We were impressed with the amount of information SEON could provide on an email address to give us comfort in whom we are doing business with. Being able to give enriched data and save the step of having a human chase down the information on a customer was a step up for us in our fight against fraud and abuse.”

Patreon will integrate SEON’s tool alongside its existing fraud solutions, ensuring a fully optimised payment experience by maximising payment acceptance and minimising declines based on having the most up-to-date information. What’s more, SEON’s processes take place in real-time and entirely in the back-end so patrons won’t experience any additional friction during the payment process, while security is bolstered.

Tamas Kadar, CEO and Founder at SEON, commented: “When we created SEON, we made it our mission to fight fraud differently from existing technologies, in Patreon we found a customer with the same disruptive spirit. Patreon saw the value of how it makes life easier for its fraud team to safeguard transactions and have round-the-clock access to a platform which contains all the information needed to fight fraud.”

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