Vesta Selected by Leading Indonesian eCommerce Giant Blibli to Protect Transactions and Boost Approval Rates
Payment guarantee solution aims to increase order approval rates, eliminate chargeback risks and provide a frictionless shopping experience
Vesta, a leading global transaction guarantee platform for online purchases, announced its partnership with Blibli, a pioneer in Indonesian omnichannel commerce and lifestyle ecosystems, to increase approval rates through its proven payment guarantee product.
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Using advanced machine learning techniques, AI and global consortium data, Vesta is protecting all of Blibli’s card-not-present (CNP) transactions through full decisioning and transaction guarantee services, eliminating the risk of chargebacks. This will allow Blibli to deliver a more secure and frictionless shopping experience to their loyal customers, while opening categories that were previously considered too risky.
“Vesta is aligned with Blibli’s vision to be the most trusted omnichannel commerce and lifestyle platform,” said Emilia Susanti, SVP of Strategic Operations for Blibli, adding, “Payment security is key to increasing our customers’ trust in transacting on our platform, leading to more growth and stickiness.”
Based on the study by Frost & Sullivan and Euromonitor, eCommerce in Indonesia is projected to reach US$150 billion by 2025. As one of the leading and most trusted omnichannel commerce and lifestyle platforms in Indonesia, Blibli recorded approximately IDR32.4 trillion (equivalent to US$2.2 billion) of Total Processing Value (TPV) in 2021.
Blibli provides over 30 million carefully curated products coming from more than 280,000 trusted merchant business partners. Additionally, Blibli can also accept various payment from more than 20 issuing bank partners in Indonesia and more than 30,000 issuing banks worldwide, and Fintechs. As an ecommerce platform that focuses on customer, service, and quality, Blibli delights more than 31 million members across Indonesia.
“We’re thrilled to help ecommerce giants like Blibli positively impact their customer experience and trust with zero-risk decisioning in real time,” said Vesta GM APAC, Shabab Muhaddes. “In APAC, digital merchants are rejecting too many good customer transactions due to the fear of fraud, and Vesta solves that pain point with our real-time decision platform and our Payment Guarantee solution.”
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