CyberSource, a wholly-owned subsidiary of Visa, is strengthening DX.com's fraud management capabilities for online payments.
The China-based online store is leveraging CyberSource's Decision Manager to prevent significant revenue loss from fraud.
CyberSource is a Visa company, and a provider of eCommerce payment management services. Featuring a powerful fraud detection radar, Decision Manager empowers its partners to quickly and accurately identify fraud.
DX.com has a growing base of global customers, and it now requires very less manual intervention to conduct more accurate analyses of its inbound orders.
"We are constantly developing our services and making online purchases more secure and accessible to customers worldwide," said Leslie Tan, chief operating officer, DX.com. "After integrating CyberSource's fraud management solution, we have seen significant savings on previous fraud losses, which gives us confidence to grow our business further."
Growing online sales in China
Expected to reach US$650 billion by 2020, the growing online sales in China are set to make the nation the largest online retail market in the world.
This growth can be attributed to the country's growing Internet population that reached 564 million at the end of 2012. A total of 242 million out of this huge Internet population purchased goods on the Web last year.
CyberSource notes that a small decrease in fraud leads to significant revenue increase and higher profitability given the fast-growing domestic eCommerce market in China.
The company is helping DX to decrease fraud by increasing its visibility in identifying potentially fraudulent transactions during the screening process.
"At CyberSource, we strive to enable merchants to reach more customers faster and protect and capture more revenue, while reducing the complexity of business expansion," said Poon Khye Wei, regional director, Greater China & Korea, CyberSource. "We are happy to work with DX to design and implement a solution tailored to meet its business goals."
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