FOURSOURCE has selected Mangopay , a payment infrastructure provider for marketplaces and platforms, to introduce payments directly within the platform. FOURSOURCE is a network comprising over 50,000 users in 120 countries, engaged in the buying and selling of apparel, fabric, trims, yarns, and home textiles.

Direct payment solutions With the integration of Mangopay’s pay-in, e-wallet, and payout technology, both buyers and sellers can make and receive payments within the secure environment of the marketplace. By incorporating payment solutions directly into the platform and eliminating the need for users to manage their money transfers, this new approach upgrades security through e-wallets, improves user experience, and creates an additional revenue stream for FOURSOURCE. Furthermore, the platform offers secure purchasing while encouraging sustainable textile production.

This framework boasts over 1.2 million showroom images, with 24 million requests made by buyers from sellers in 2023. Through the partnership with Mangopay, buyers can convert their quote requests into orders and securely purchase directly from sellers’ showrooms. Moreover, Mangopay offers support for various business models within the platform economy through its modular payment infrastructure.

The company assists platforms and marketplaces with its programmable e-wallet solution and comprehensive payment infrastructure, which encompasses everything from pay-in to payout, along with AI-driven fraud prevention measures. Using AI in marketplaces Businesses protect themselves and their customers from fraudulent activities by using advanced machine learning algorithms and data analytics. This approach allows marketplaces to act swiftly, safeguarding user information and financial transactions.

One of the key benefits of AI-driven fraud prevention is its ability to learn and adapt over time. As it encounters new types of fraud, the system becomes more intelligent and efficient, improving its detection capabilities. This continuous learning process ensures that marketplaces remain one step ahead of cybercriminals.

Furthermore, AI-driven systems can handle vast amounts of data in real-time, far beyond the capacity of human analysts. This means that potential threats can be identified and mitigated quickly, minimising the risk of financial losses and reputational damage. In addition to identifying fraud, AI can upgrade the overall user experience by ensuring that legitimate transactions are processed easily, providing customers with a better shopping experience.

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