The Japanese domestic eCommerce market is the fourth largest business-to-consumer market in the world at USD $177.5 billion (JP Morgan). Growth in the sector has attracted fraud, with a 43% rise year-over-year in damages attributed to stolen credit cards (Japan Consumer Credit Association). Riskified’s machine learning platform leverages a global merchant network to analyze and provide real-time decisioning for card-not-present transactions, lifting approval rates and increasing online revenues.
As an example of Riskified’s success in Japan, DMM.com, one of Japan’s largest entertainment portal sites with over 39.14 million members (as of February 2022), recently chose Riskified’s fraud prevention solution, Chargeback Guarantee, for complete protection against fraud and chargeback costs. DMM.com joins giftee Inc. and other prominent Japanese companies in relying on Riskified’s risk intelligence platform, giving them access to fraud prevention analytics and insights through a fully localized dashboard.
“We are excited to grow our presence in Japan and to be able to support more Japanese and global merchants in one of the most dynamic cross-border eCommerce markets in the world,” said Anthony Guercio, Riskified Japan Country Manager. “Riskified’s fraud detection and prevention platform, through our Chargeback Guarantee offering, has a superior ability to guarantee fraud decisions 100% while improving our clients’ topline and their customers’ experience. Our decision to establish an entity in Japan demonstrates our ongoing commitment to the region.”
Kicking off a year of activities in Japan, Riskified will be present at eCommerce Fair Tokyo 2023, taking place February 9 and 10 at Tokyo Big Sight. The Riskified Japan team will welcome customers, partners, media and anyone interested in reducing the impact of fraud on the eCommerce industry at their booth F10.