Riskified, and Dentsu have announced a strategic partnership to introduce Riskified’s eCommerce enablement and fraud prevention solutions to Dentsu’s customers. The partnership will support Dentsu’s customer’s digital transformation and enhance adoption of best of breed eCommerce technologies. Riskified provides eCommerce enablement and fraud-prevention solutions and Dentsu is a global advertising and public relations agency.
eCommerce rapid acceleration during COVID-19 will continue post-pandemic. US Consumers spent over $861 billion online, a 44% increase compared to 2019 according to Digital Commerce 360 estimates. The pandemic accelerated eCommerce penetration as a percentage of total retail sales to 21.3% in 2020. This accounted for all growth in retail sales.
Merchants scaling up online capabilities
As a result, merchants across the world are looking to scale up their online capabilities. They are also adapting to the changing selling realities by going through digital transformation. But as eCommerce booms around the world – fraudsters look to take advantage. They invest time and efforts to overcome sophisticated fraud prevention tools and use advanced tactics to try and bypass them. The threat of fraud can mean merchants don’t reach their online potential by being too cautious. Alternatively, they can miss out on new cross-border revenue streams or by wrongfully declining legitimate transactions.
Riskified helps eCommerce merchants safely approve more orders, increase revenue, and expand internationally while delivering a better customer experience.
Dentsu partners with brands around the world to create solutions that unlock opportunities for growth across the entire customer journey. This partnership will provide Dentsu’s 11,000 customers access to Riskified’s Chargeback Guarantee solution. The tool allows them “to shift liability for fraudulent transactions to Riskified and take the risk out of eCommerce”.
Riskified’s AI-based platform enables merchants to recognise legitimate customers and keeps them moving toward conversion while keeping out fraudsters. Merchants who use Riskified solutions see dramatically increased revenue and reduced costs. The Riskified-Dentsu partnership brings together proven expertise in business, digital transformation and market strategy to help merchants reach their potential.
Supporting smooth payments
According to Koji Watanabe, Senior Global Director at Dentsu’s Global Business Division, “We believe that supporting smooth payments will contribute greatly to the user experiences and seamless eCommerce services by brands. We are very happy to be able to provide such valuable solutions to our clients around the world.”
Miki Kanayama, Global business producer of Dentsu’s Business Producers Division, says “We are very excited to kick-off this partnership. It will allow us to offer Riskified’s innovative approach and solutions to our Japanese clients and merchants worldwide,”
“We are continuously looking to solve the greatest challenges of our clients. We believe Riskified’s solutions will allow our clients to increase sales, reduce fraud, all while providing a frictionless eCommerce experience.
“In a pandemic stricken world, we are excited to partner with Dentsu to hasten merchants’ digital transformation. This allows them to maximize their online sales and provide a superior consumer experience,” said Jed Alpert, VP of Marketing and Channels at Riskified.
Enterprise Times: What this means for business?
The Riskified and Dentsu global strategic partnership is just another sign of the times. The eCommerce sector is booming, as consumers adjust and change their behaviour and embrace online shopping. As a result, agencies and consultancies form partnerships to fill in gaps in their existing portfolio of services. Dentsu is moving with the time. The company is innovating the way brands are built for its clients through its best-in-class expertise and capabilities in media, digital and creative communications services.