US-based transaction guarantee platform Vesta teams up with BliBli to increase order acceptance rates, reduce the danger of chargebacks and provide a frictionless shopping experience.
Vesta, one of the top worldwide transaction guarantee platforms for online purchases has partnered with Blibli, an Indonesian omnichannel commerce, and lifestyle pioneer to boost acceptance rates through its reputed payment guarantee solution.
Vesta provides ML, AI and global consortium data
Vesta is bringing advanced machine learning techniques, artificial intelligence, and global consortium data to safeguard all of Blibli's CNP (card not present) transactions through precise decisions and transaction guarantee services. This will reduce the risk of chargebacks, execute a more seamless and secure shopping experience for their devoted customers, and open categories that were previously considered too risky.
Emilia Sussanti, senior vice-president for strategic operations at Blibli said, “With the aim of being the most trusted omnichannel commerce and lifestyle platform, Blibli believes Vesta to be the perfect one in order to achieve the vision of the company”.
Sussanti said payment security is a key priority to increase customers and Blibli platform will lead to more growth and stickiness.
Projected surge of e-commerce in Indonesia in upcoming years
According to a report by Frost & Sullivan and Euromonitor, e-commerce in Indonesia would be valued at $150 billion by 2025. The e-commerce revenue in Indonesia is expected to reach USD 47 billion in 2023 at a CAGR of 25.8% during 2019-2023 as the nation is experiencing rapid growth in the digital ecosystem.
(Estimated Growth of Indonesia's E-Commerce Market in 2023)
Blibli, one of Indonesia's top and most trusted omnichannel commerce and lifestyle platforms has already registered around IDR32.4 trillion (almost $ 2.2 billion) in total processing value (TPV) in 2021.
Blibli offers over 30 million curated products from more than 280,000 reputable merchant business partners. It accepts payments from more than 20 issuing partners in Indonesia, about 30,000 issuing banks worldwide and fintech. Putting a strong emphasis on customer, service and quality, Blibli as an e-commerce platform delights more than 31 million members across Indonesia.
Shabab Muhaddes, general manager of Asia Pacific (APAC) at Vesta said helping the e-commerce giants like Blibli will have a positive impact on their customer experience and reliability with zero-risk decisions in real-time.
Due to fear of fraud incidents, digital merchants reject the transactions of many good customers. Vesta addressed this pain point with its real-time decision platform and payment guarantee solutions