CashShield, an industry leading fraud management solution specialising in big data and pattern recognition, today announced a partnership with Scalefast, a rapidly-growing e-commerce platform provider for the entertainment industry. Leveraging on CashShield’s user authentication services, Scalefast looks to unlock of the full potential of its clients’ online businesses.
“Brands struggle when it comes to selling directly to consumers because of the time, cost, and risk related to new technology, logistics, fraud and other challenges” said Nicolas Stehle, CEO at Scalefast. “CashShield is a fantastic lever that helps us mitigate these risks for our customers, fulfilling their true revenue potential while minimizing their vulnerability to targeted fraud attacks. This partnership gives us the confidence to diversify our product offerings and look towards expanding into new geographical territories.”
Using big data and pattern recognition, CashShield empowers merchants to maximise their revenue and minimise fraud. With its firm focus on combining full automation with accuracy and speed in risk assessment, CashShield completely eliminates the need for costly and lengthy manual reviews while boosting the number of genuine transactions accepted. An industry leader, CashShield is the first in the world to provide a 100% Chargeback Protection since its inception in 2008. With its innovative technology, CashShield has achieved notable recognition from the Singapore government, including the 2016 MAS FinTech Award and the 2016 National Infocomm Award.
“Scalefast fills an important gap in e-commerce with an elegant solution for its customers to overcome the risks of online growth, allowing them to expand seamlessly into the digital space.” said Jonah Lee, Co-founder of CashShield. “Our partnership enables Scalefast to better fulfil its mission safely, allowing it to gain a comparative advantage in fraud management and profit maximization.”
Since its inception, Scalefast has grown rapidly at a rate of nearly 3x every year. In 2016, Scalefast handled its 12 millionth order from consumers in 130 countries. The company provides a complete e-commerce solution for companies that want to accelerate online sales without the time, cost and risk of in-house development. By developing its own commerce platform, international operations team, and supply eco-system, Scalefast moves rapidly to help its customers launch, learn and improve their direct-to-consumer strategy.
This partnership has positive impacts for the everyday consumer. Together, Scalefast and CashShield provide a seamless shopping experience that virtually eliminates the threat of fraudulent transactions. Consumers are able to check out faster, receiving confirmation on their orders within seconds instead of the traditional time delay of about ten minutes.