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Japan’s Ecommerce Sector Battles Fraud with Advanced Detection Methods
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In a rapidly growing ecommerce market, Japanese merchants are racing to stay ahead of fraudsters by implementing robust anti-fraud measures. A recent report highlights the importance of multifaceted and multi-layered approaches to prevent online fraud in Japan.
The Importance of Anti-Fraud Measures
According to the Installment Sales Act issued by METI, all merchants must take comprehensive steps to prevent online fraud. The Japan Credit Card Association has also published guidelines outlining requirements for payment service providers (PSPs), including:
- PCI DSS compliance
- Providing assistance to merchants on fraud measures
- Implementing online authentication, fraud detection, and address verification systems
Practicing Anti-Fraud Measures
In practice, PSPs such as KOMOJU urge merchants to install these measures on their websites. KOMOJU:
- Automatically enrolls new merchants in the 3D Secure 2.0 service for free
- Employs fraud detection software powered by artificial intelligence to detect potential fraudulent transactions before they occur
Other popular ecommerce platforms like Shopify and Wix.com offer manual approval options for orders marked as high-risk or low-risk, allowing merchants to identify suspicious purchases.
Seamless Integration with Popular Ecommerce Platforms
KOMOJU seamlessly integrates with these platforms, making it easy for merchants to implement robust anti-fraud measures. This integration provides a secure and trustworthy online shopping experience for customers.
The Future of Anti-Fraud Measures in Japan’s Ecommerce Market
As Japan’s ecommerce market continues to grow, so does the need for advanced fraud detection methods. By staying ahead of fraudsters, Japanese merchants can ensure a secure and trustworthy online shopping experience for their customers.