Through this partnership, Novelty becomes the first online card processor to offer a chargeback guarantee for e-commerce companies in the APAC region.
Risky (NYSE: RSKD), an anti-fraud platform that enables seamless e-commerce, has announced an exclusive partnership with Novatti Group (ASX: NOV), a leading digital payments company enabling businesses to pay and receive money. Leveraging Riskified’s premier Chargeback Guarantee offering, Novatti becomes the first and only online card processor in Asia Pacific to provide 100% fraud protection to businesses.
Headquartered in Australia and with global operations in 58 countries, Novelty enables businesses and individuals to make payments securely using cross-border transfers, digital wallets and vouchers. In partnership with RiskyNovatti can now shift responsibility for payments out of their business, helping them minimize risk, reduce operating costs and increase revenue, while also allowing them to expand globally without fear of fraud.
“We are excited to partner with Riskified and bring their insights and expertise in fraud prevention to our community. With Riskified’s leading fraud prevention technology, we are now able to help our e-commerce businesses that are facing high chargebacks and low approval rates due to the friction caused by legacy fraud solutions,” said Kian Jackson, General Manager of Novatti’s Trade Acquisition . . “This partnership will enable our Asia Pacific businesses to reduce fraud costs and achieve higher approval rates, making them better positioned to solve problems without risk.”
“We are incredibly excited to partner with a prominent FinTech player like Novatti to enable businesses to maximize their online sales and provide the best customer service while digitally transforming their companies,” said Tasnin Padiyat, Riskified’s General Manager and VP of Sales, APAC . “E-commerce businesses can face many challenges as they scale, from the complexities of cross-border expansion to ever-changing fraud patterns, and Riskified is here to help.”
Riskified is a machine learning platform that leverages the global merchant network to enable automated risk-based decision-making throughout the customer journey, minimizing fraud and maximizing net profit for e-commerce sellers. The platform serves more than 400 million buyers in more than 180 countries and captures more than 100 different data points per transaction. Novatti has incorporated Riskified’s Chargeback Guarantee into its payment platform, resulting in a very unique and compelling proposition for businesses that are now better equipped to grow their online e-commerce presence.
Disclosure: At the time of writing, Australian FinTech Pty Ltd is a shareholder of Novatti Group Limited.