Riskified and Axerve help KIKO Milano increase cart conversions under PSD2 by maximizing TRA (Transaction Risk Analysis) –

Risky, Ltd. (NYSE: RSKD ), an anti-fraud platform that enables seamless e-commerce, and Axerve, a leading Italian payment processor that has developed a platform for global payments, have launched an expanded strategic partnership to offer Riskified’s machine learning solutions, including PSD2 Optimize, in Axerve’s customer portfolio. One of Axerve’s first customers to implement PSD2 Optimize, KIKO Milano, saw nearly 99% of orders exempt from Strict Customer Authentication (SCA) using Transactional Risk Analysis (TRA) and a more than 10% increase in transaction approval rates.

Since the European Union’s PSD2 compliance, SCA requirements have made things more difficult for sellers. PSD2 Optimize enables merchants to minimize the impact of the European Union’s PSD2 regulations on their e-commerce by using TRA exemptions to ensure seamless and secure payment for legitimate users and low-risk orders, and to use 3D Secure (3DS) payments to be applied only when if necessary. As e-commerce continues to grow, providing frictionless solutions is vital to improving the shopping experience for consumers and the collection experience for merchants.

PSD2: Customer experience is a double-edged sword

Axerve works with more than 100,000 customers on a global scale and their ultimate goal is to simplify complex payment processes for their customers while ensuring high security standards. When PSD2 went into effect, e-commerce retailers across Europe immediately felt its impact on the customer journey: the friction added to the checkout flow caused shoppers to abandon their carts, which negatively impacted conversion rates. In particular, KIKO Milano faced a large number of customer service calls from customers complaining that they were unable to complete their purchase. With nearly 70% of orders being disputed by 3DS, with a high rejection rate, they realized they needed a tool to streamline the order process and preserve revenue while ensuring full compliance.

The Riskified Approach: More Optimization for Less Friction

To help merchants overcome PSD2 challenges, Axerve has introduced Riskified PSD2 Optimize as part of its payment processing platform: Axerve Guaranteed Payments. KIKO Milano, a long-standing customer of Axerve, has historically championed investment in new solutions to improve customer experience and was looking for a fraud prevention solution to reduce fraud costs and increase conversion rates.

“When PSD2 went live, Axerve told us that the rate of declined transactions was increasing rapidly, and our customer support team also alerted us that the number of tickets opened by customers had quadrupled,” said Diego Morgandi, E-Commerce Director, KIKO Milano. “We were excited to hear about Axerve’s Riskified solution and immediately wanted to check it out. The benefits of PSD2 Optimize were immediate. We’ve seen a reduction in failed transactions, which has increased approval rates and allowed us to provide our customers with a real hassle-free payment experience. This partnership is critical to our success.”

In an environment as complex as the payments ecosystem, flexibility and innovation are fundamental to meet the growing need to secure the entire payment process while making it as seamless and seamless as possible, while being secure and compliant. Riskified’s solutions help e-commerce sellers securely approve more orders, increase revenue, expand into new markets and deliver a better customer experience. Thanks to a partnership with Axerve, e-commerce sellers from various industries in Europe can now use Riskified’s PSD2 Optimize solution to leverage exceptions and ensure seamless payments for their customers.

“As a partner for our customers in the world of payments, it is our duty to always offer the most innovative solutions that allow us to guarantee our customers the best authorization speed,” said Alessandro Bocca, CEO of Axerve. “The initial phase of PSD2 adoption was difficult as the system and the industry were not prepared for this challenge, both in the management of the authentication part and on the issuer side for exception management, which led to large conversion losses. The challenge of SCA and anti-fraud in general has been opportunity after opportunity to join forces with Riskified, best-in-class fraud prevention.”

“When PSD2 was introduced, we knew our merchants and partners needed an immediate solution. They needed to comply with the rules and implement 3D-secure while at the same time using exceptions to improve the customer experience. In order for a merchant to maximize exceptions, he must perform a transaction risk analysis and identify those low-risk orders. And that’s exactly the kind of opportunity that Riskified has as we’ve been perfecting it over the last decade,” said Naama Ofek Ard, Chief Operating Officer, Riskified. “Ultimately, the goal of everyone involved is to deliver higher conversion rates for our merchants and a seamless experience for their customers, and this partnership is a testament to our mission and our capabilities.”

About Riskified

Riskified enables businesses to realize the full potential of e-commerce by making it secure, accessible and seamless. We have created a next-generation e-commerce risk management platform that enables online merchants to build trusting relationships with their consumers. Using machine learning that takes advantage of the global commerce network, our platform identifies the person behind every online interaction, helping sellers—our customers—eliminate risk and uncertainty in their business. We help increase sales and reduce fraud and other operational costs for our merchants and strive to provide a better consumer experience compared to the performance of our merchants before they joined us.

About Axerve

Part of Fabrick’s Fintech ecosystem, Axerve serves more than 100,000 active customers as a business development partner helping them understand, anticipate and meet market needs through technology and innovative POS and e-commerce solutions. Axerve supports them nationally and internationally and in each individual market, combining value-added services to meet the needs of physical and online stores with a personalized user experience, offering more than 250 payment methods. The offering consists of a single platform to accept payments of any type from all physical and digital channels in a clear, simple and secure way through physical and digital gateways such as POS, e-commerce solutions, Cashin machines, apps and value-added services; with the aim of offering answers to all questions in the field of payment acceptance, offering new solutions (in-store, mobile and digital) that adapt to the specific needs of customers. Axerve Ecommerce Solutions is a strong leader in online payment management services across all product sectors.

About KIKO Milano

KIKO MILANO was established and founded in 1997 by Perkasi. It is an Italian professional cosmetics brand that offers a range of advanced products for make-up, face and body care.

Safe and effective products of the highest quality, designed to meet the beauty needs of women of all ages.

Find your beauty – this is how KIKO summarizes its vision of beauty. Through an unusually wide and diverse range of products, KIKO allows everyone to express their individuality. An unprecedented variety of colors, effects and sensations that are unique on the market to match your style, skin tone, skin type and special tastes at every stage of your life.

KIKO’s identity is based on the values ​​of “Made in Italy” as the world capital of fashion, art and design. As masters of original textures, colors and the evolution of beauty, we offer quality formulas with guaranteed performance for the perfect combination of quality and creativity.

Riskified and Axerve Help KIKO Milano Boost Cart Conversions Under PSD2 by Maximizing TRA (Transaction Risk Analysis)

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