Online risk intelligence specialist Riskified has partnered with Mastercard to mitigate the threat of fraud and chargebacks for e-commerce businesses.
Riskified’s machine learning platform provides merchant fraud teams with highly accurate, automated risk-decisioning for e-commerce transactions. Developed and managed by a team of ecommerce risk analysts, data scientists and researchers, its AI-powered fraud and risk intelligence platform analyses the individual behind each interaction to provide real-time decisions and identity-based insights. It also uses insights to help companies improve customer retention.
As part of the deal, the company will combine its transaction and identity network with insights from Mastercard’s cybersecurity products and solutions. It will also give the firm access to Mastercard’s suite of tools that enabling real-time alerts on chargeback events and automated dispute resolution.
Riskified has previously partnered with several top merchant brands such as Wayfair, Booking.com, and Prada to offer protection against chargebacks, and fight fraud and policy abuse at scale. By mitigating risk, it says it can help companies grow their online revenus.
Speaking on the announcement Kevin Sprake, Vice President, Global Channel Partnerships at Riskified said: “This global partnership with Mastercard highlights the measurable impact Riskified makes on merchant revenues and profitability. We’re excited to work with Mastercard to empower merchants to continue investing in e-commerce to drive growth across the globe, and particularly in emerging markets where merchants have higher exposures to fraud and abuse.”