"With the highest penetration of online commerce in the world, Japan is the ideal place for fraudsters to hit. Especially as its citizens are shifting from cash to online payments, i.e. credit cards. Soon damages from offline credit card fraud will be lower than online" - says Patrick Drexler, Head of Business Development Team at Nethone. "Many companies in Japan are not ready for the upcoming changes and security threats. They still do not even have such positions as a chief online security officer or fraud manager, which are common in online business in Western countries. But Nethone solutions will help them with effectively fighting online fraud. Nissho is fully aware of that, that is why we decided to form business collaboration and invest in this crucial region" - adds Patrick Drexler.
Nissho will help Nethone with the distribution of its two core products - Guard and ATO. Nethone Guard prevents online payment fraud by identifying anonymization, automation, and suspicious behaviour. Nethone ATO is a comprehensive fraud-prevention tool based on behavioural biometry that secures business from diverse types of fraud - not only from account takeover (ATO) but also payment fraud from newly created accounts. It can counteract them with great precision thanks to an authorial AI modelling approach and combining raw behavioural data from Nethone Profiler.
In 2021, Nissho plans to sell "Tranfis powered by Nethone" advisory worth Yen200m. Also, by using the data and profiler information accumulated by Nethone's KYU technology, Nissho will provide solutions for e-commerce operators aiming to improve the customer experience, enhance engagement, and improve conversion rate both in Japan, and the whole Asia.