Ripple Partner Novatti to Use Riskified Fraud Management Platform for Secure Payments
As reported by The Paypers, RippleNet member Novatti has entered a partnership with Riskified to tap its technology in order to begin providing secure payments to its customers.
This will help Novatti to become the only payment processor in the Asia Pacific zone that can provide businesses with full protection against fraudulent chargebacks.
Novatti becomes stronger thanks to Riskified
Using its vast client base around the world, Novatti, by partnering with Riskified, will be able to cut down risks and operational expenses for the payments it conducts via digital wallets across borders, thus supporting its expansion worldwide.
The solution of Riskified, which helps e-commerce merchants lower the risk of fraud and improve their net revenues, already works for nearly half a billion shoppers in 180 countries. The solution it offers protects businesses from fraudulent chargebacks.
Now, Novatti will be able to offer its manifold clients the same protection. Earlier this year, Riskified inked a similar partnership with another company, Aurus.
Novatti taps Ripple's ODL technology
Novatti partnered with Ripple and joined RippleNet in 2020, beginning to utilize Ripple's On-Demand Liquidity (ODL) tech. The latter eliminates the necessity of using prefunded accounts for making transnational payments around the world. It also makes payments instant and low in cost.
RippleNet is used by more than 300 companies and financial institutions in more than 55 countries.
The partnership of Novatti and Ripple was signed in late 2020 but announced only in early 2021. It was initially focused on payments between Australia and the Philippines.Source