Novatti teams up with Riskified to combat payment fraud

Riskified, a fraud management platform enabling frictionless eCommerce, has announced an exclusive partnership with Novatti Group, a digital payments company focused on enabling businesses to pay and be paid.

By utilising Riskified's premier Chargeback Guarantee offering, Novatti becomes the first and only online card processor in the Asia Pacific region to offer total protection for fraudulent chargebacks to businesses.

Headquartered in Australia and with global operations in 58 countries, Novatti enables businesses and individuals to make payments safely through cross-border transfers, digital wallets and vouchers.

In partnership with Riskified, Novatti can now shift liability around payments away from its businesses, helping them to minimise risk, reduce operational costs and lift revenue, as well as allowing them to expand globally without the fear of fraud, the company states.

Kian Jackson, General Manager, Merchant Acquiring at Novatti, says, "We are delighted to be partnering with Riskified and to bring their insights and experience in fraud prevention to our community.

"Thanks to Riskified's leading fraud prevention technology, we are now able to assist our eCommerce businesses who are facing high volumes of chargebacks and low approval rates due to the friction caused by legacy fraud solutions. This partnership will allow our APAC businesses to reduce fraud costs and gain higher approval rates, placing them in a better position to take on challenges without risk."

Tasneen Padiath, Riskified's General Manager and VP Sales, APAC, says, "We are incredibly excited to partner with an established FinTech player such as Novatti to enable businesses to maximise their online sales and provide a superior customer experience while digitally transforming their companies.

"eCommerce businesses can face a host of challenges as they scale, ranging from the complexities of cross-border expansion to the continuously changing patterns of fraud, and Riskified is there to help".

Riskified is a machine learning platform that leverages a global merchant network to provide automated risk-based decisioning throughout the customer journey, minimising fraud and maximising net revenue for eCommerce merchants.

Leveraging machine learning that benefits from a global merchant network, Riskified's platform identifies the individual behind each online interaction, helping merchants and customers eliminate risk and uncertainty from their business. The company is focused on enabling higher sales and reducing fraud and other operating costs for merchants, and providing superior consumer experiences.

The platform serves more than 400 million shoppers across over 180 countries and captures more than 100 different data points per transaction.

Novatti incorporated Riskified's Chargeback Guarantee into their payment platform which results in a unique offering for businesses who are looing to grow their online eCommerce presence.