NoFraud

Seen as covering far more fraud vectors than basic processor tools, from account takeovers to synthetic identities and bots.

“Fun fact: Incogia started as a research project in college. I was working on something related to the Internet of Things. The idea was figuring out how you authenticate users to the smart devices around them without passwords, without friction. Seamlessly. To make that work, we had to know exactly where a device was. GPS wasn't good enough. Not even close. So we had to invent a new technology entirely. The first four years of my career were basically spent trying to solve that one problem. Getting location precision indoors to a point where it was actually useful. When we got to 10 feet of accuracy (WAY better than anything GPS could do) we realized we had something. Then our research project became a business question: what do you build on top of technology like this? The answer at the time was In Loco. We built it in Brazil, using that same precise location technology to help physical retailers reach customers based on where they actually were. In Loco grew. And eventually we decided to bring it to the US. I came to Silicon Valley in 2020 to do exactly that…and then the pandemic hit. Physical retailers shut down overnight. We saw revenue drop 95%. In a matter of months, my co-founders and I had to figure out what came next. We didn’t have a choice. We didn’t know how long the pandemic would last. But we still had the technology. We just had to find where it actually belonged. Turns out, it belonged in fraud prevention. That's how Incognia started. One of the craziest, most stressful times of my career. But I'm glad it worked out this way. Incognia has grown into something much bigger, and we're now a global company. It's been a long road from that college research project. Proud of how far we've come, and we're just getting started.”— @andreferraz91 on X

Merchants want clearer answers on why an order was flagged; public responses stay general rather than specific.

“Lawyers have seen this before: fraud prevention policy, no fraud controls. Data retention policy, no retention system. AI governance policy, no agent authorization layer. Same trap. https://t.co/RW17iDnJzg”— @adamdavidlong on X

Support tends to redirect merchants to ticket queues and documentation rather than resolving issues in-thread.

“Thanks for reaching out - we’ll look into this for you. Please share your store link in the thread along with a support ticket number if you have one open. We take action based on a range of signals to protect the trust of merchants and their buyers. For more on how we make these decisions and steps you can take: https://t.co/CwjeN1whao”— @ShopifySupport on X

Positioned as a step up from relying solely on card-network tools like Stripe Radar.

“If you think Stripe Radar is enough, you're covering maybe a third of the fraud vectors that matter. Modern fraud isn't just stolen cards. It's account takeovers, synthetic identities, bot attacks, friendly fraud, and money laundering, each requiring its own defense layer. That's why fraud prevention has split into a full stack of specialized tools. Card fraud is still massive, but its share of total losses keeps shrinking. In many verticals, transactional fraud is no longer the biggest threat. Sift is a good illustration. Often seen as a generic fraud tool, it processes signals far beyond payments: ~70% of its detections relate to non-payment events (logins, signups, content abuse) ~1 trillion events analyzed per year ~34,000 sites and apps protected globally And here's the shift almost nobody talks about: the card networks and bureaus are quietly buying up the entire stack. Visa now owns Featurespace and Verifi. Mastercard owns Ethoca and NuData. Equifax owns Kount and Midigator. LexisNexis owns ThreatMetrix. Entrust absorbed Onfido. "Beyond Stripe Radar" increasingly means "beyond a handful of giants." The full stack today: - End-to-End Fraud Platforms: Sift, Forter, Riskified, Signifyd, Sardine, SEON, ClearSale, NoFraud, Ravelin - Device Intelligence & Behavioral Biometrics: Fingerprint, Incognia, BioCatch, ThreatMetrix, Castle, SHIELD, Callsign, NuData, Darwinium, Trustfull - Identity Verification & KYC: Persona, Alloy, Sumsub, Socure, Onfido, Veriff, Jumio, Incode, iProov, Trulioo, Mitek, IDnow, GBG - AML & Transaction Monitoring: ComplyAdvantage, Hawk AI, Unit21, Feedzai, NICE Actimize, Quantexa, SAS, FICO, Nasdaq Verafin, Chainalysis, ACI Worldwide, DataVisor - Bot Protection & Account Takeover: Arkose Labs, HUMAN, DataDome, Cloudflare, Kasada, Imperva, Akamai, Netacea, Trusona - Chargeback & Dispute Management: justt, Chargeflow, Ethoca, Verifi Inc., Kount, Midigator, Chargebacks911 Attacker behavior explains the split. AI-generated synthetic identities, credential stuffing at scale, and organized fraud rings have made single-layer defenses obsolete. A rough 2026 picture of where losses sit: ~45% account takeovers and identity fraud ~30% transactional and card fraud ~25% chargebacks and friendly fraud Real-time decisioning, shared fraud networks, and AI-driven risk scoring keep accelerating the trend. Fraud prevention is no longer a feature. It's becoming critical infrastructure for every digital business. PS: I post about payments with @Subyhq, stablecoins & the reality of building a payment startup, every week. Follow for more!”— @gaspardlezin on X

Case for prevention rests on the real chargeback cost running well past the $15-25 dispute fee once labor and lost goods are counted.

“The dispute fee on a chargeback is $15-25. The lost product cost, shipping, and fraud team time push the real cost past $190 per incident. Prevention is always cheaper than disputes.”— @getfidro on X