In a globally expanding market, Koin, a fintech specialized in simplifying digital commerce, will invest approximately R$ 30 million to advance its anti-fraud solutions in Brazil and Latin America in 2025. Driven by the increase in digital transactions and the sophistication of fraud attempts, the fintech aims to expand its portfolio and bring new technologies to ensure increasingly secure e-commerce transactions.
“Our goal is for merchants to have access to quality anti-fraud solutions with features such as biometrics and 3DS, an e-commerce authentication protocol that enhances transaction security and improves the shopping experience to prevent losses in online purchases,” explains Dieter Spangenberg, Chief Payments and Fraud Officer.
Developed to prevent fraud in e-commerce transactions and maximize sales conversion rates, Koin’s solution uses artificial intelligence and machine learning to analyze transactions in real-time, identifying suspicious patterns and fraudulent behavior.
Studies indicate that, just in the first nine months of 2023, losses of R$ 41.4 billion were avoided in the country thanks to authentication and fraud prevention tools. According to the Global eCommerce Payments and Fraud Report, 2024 edition, merchants in Latin America spend nearly double the global average to manage payment fraud (19% vs. 11%), especially SMEs with annual e-commerce sales revenue between $50,000 and $5 million.
For consumers, the lack of security during online purchases also brings losses. A recent survey by Koin on the landscape of scams and virtual fraud showed that consumer vulnerability remains a threat. According to the research, 62.4% of Brazilians have already experienced some form of online scam attempt, with the majority (41.8%) occurring on shopping websites.
Therefore, the evolution of anti-fraud offerings is essential to simplify transactions and provide an easier shopping experience for the brand’s partners’ consumers. “We are leaders in Argentina and are growing consistently in Brazil, offering essential tools to ensure consumer security and protect businesses against financial fraud,” emphasizes Spangenberg.
Koin operates in Brazil, Argentina, Colombia, Mexico, Peru, Uruguay, and Chile, and already serves major clients such as Decolar and Jetsmart, Nike, Frávega, Indrive, Simmons, Clickbus, and Reebok, helping to provide secure and flexible payment solutions across various countries.
Focus on transactions in the Koin app
At the same time, the fintech is betting on transactions through its own app. Since its launch just over a year ago, the app has surpassed 1.5 million downloads and is growing at a monthly transaction volume rate exceeding 50%. According to Lucas Iván Gonzalez, Chief Product Officer and Chief Commercial Officer of the company, “60% of Koin’s daily operations come from the app, which is increasingly used by consumers to seek credit for installment purchases at their favorite stores.”
“With the diversity of payment methods, along with the benefits provided to consumers in our app, we expect to triple the transaction volume by 2025,” highlights the executive.
In 2025, Koin aims to consolidate its BNPL (Buy Now, Pay Later) operations with an increasing diversification of segments, such as tourism, education, clothing, cosmetics, sports, and pets. According to the fintech’s executive, the goal is to expand credit democratization to new consumption areas in Brazil.
With the continuous strengthening of its client portfolio, combined with the app’s growth and the expansion of anti-fraud solutions, Koin intends to establish itself as a leader in digital financial inclusion. “Our goal is to chart a solid path to lead the anti-fraud market in Latin America and BNPL in Brazil, developing products and partnerships that bring accessibility and flexibility to businesses and consumers,” concludes Gonzalez.
“Our goal is for merchants to have access to quality anti-fraud solutions with features such as biometrics and 3DS, an e-commerce authentication protocol that enhances transaction security and improves the shopping experience to prevent losses in online purchases,” explains Dieter Spangenberg, Chief Payments and Fraud Officer.
Developed to prevent fraud in e-commerce transactions and maximize sales conversion rates, Koin’s solution uses artificial intelligence and machine learning to analyze transactions in real-time, identifying suspicious patterns and fraudulent behavior.
Studies indicate that, just in the first nine months of 2023, losses of R$ 41.4 billion were avoided in the country thanks to authentication and fraud prevention tools. According to the Global eCommerce Payments and Fraud Report, 2024 edition, merchants in Latin America spend nearly double the global average to manage payment fraud (19% vs. 11%), especially SMEs with annual e-commerce sales revenue between $50,000 and $5 million.
For consumers, the lack of security during online purchases also brings losses. A recent survey by Koin on the landscape of scams and virtual fraud showed that consumer vulnerability remains a threat. According to the research, 62.4% of Brazilians have already experienced some form of online scam attempt, with the majority (41.8%) occurring on shopping websites.
Therefore, the evolution of anti-fraud offerings is essential to simplify transactions and provide an easier shopping experience for the brand’s partners’ consumers. “We are leaders in Argentina and are growing consistently in Brazil, offering essential tools to ensure consumer security and protect businesses against financial fraud,” emphasizes Spangenberg.
Koin operates in Brazil, Argentina, Colombia, Mexico, Peru, Uruguay, and Chile, and already serves major clients such as Decolar and Jetsmart, Nike, Frávega, Indrive, Simmons, Clickbus, and Reebok, helping to provide secure and flexible payment solutions across various countries.
Focus on transactions in the Koin app
At the same time, the fintech is betting on transactions through its own app. Since its launch just over a year ago, the app has surpassed 1.5 million downloads and is growing at a monthly transaction volume rate exceeding 50%. According to Lucas Iván Gonzalez, Chief Product Officer and Chief Commercial Officer of the company, “60% of Koin’s daily operations come from the app, which is increasingly used by consumers to seek credit for installment purchases at their favorite stores.”
“With the diversity of payment methods, along with the benefits provided to consumers in our app, we expect to triple the transaction volume by 2025,” highlights the executive.
In 2025, Koin aims to consolidate its BNPL (Buy Now, Pay Later) operations with an increasing diversification of segments, such as tourism, education, clothing, cosmetics, sports, and pets. According to the fintech’s executive, the goal is to expand credit democratization to new consumption areas in Brazil.
With the continuous strengthening of its client portfolio, combined with the app’s growth and the expansion of anti-fraud solutions, Koin intends to establish itself as a leader in digital financial inclusion. “Our goal is to chart a solid path to lead the anti-fraud market in Latin America and BNPL in Brazil, developing products and partnerships that bring accessibility and flexibility to businesses and consumers,” concludes Gonzalez.
