Zigzag, a cross-border e-commerce support company, announces the number of overseas fraudulent payment blocks in the first half of 2024. Preventing fraudulent payments worth approximately 75 million yen
*Zigzag*
Press release: September 3, 2024
**
Zigzag, a cross-border e-commerce support company, announces the number of overseas fraudulent payment blocks in the first half of 2024. Preventing fraudulent payments worth approximately 75 million yen
*～A total of 30,000 fraudulent payments (equivalent to 1.2 billion yen) have been prevented in the six and a half years since
WorldShopping BIZ secure payment function was launched～*
* “WorldShopping”, which provides web inbound and cross-border e-commerce support
Zigzag Co., Ltd. (Headquarters: Shibuya-ku, Tokyo, Representative Director: Kazuyoshi Nakazato, hereinafter referred to as “Zigzag”), which operates BIZ (World Shopping Biz), has developed a “Secure Payment” service that prevents EC businesses from receiving fraudulent overseas payments. We have been providing this service since 2018, and we are pleased to announce that we have prevented a total of 30,124 cases (equivalent to approximately 1.2 billion yen) of fraudulent overseas payments by June 2024. *
* ・Background behind the “Secure Payment” function to prevent fraudulent payments*
As a countermeasure to the recent spread of the new coronavirus infection, calls to refrain from going out and the use of e-commerce have been recommended, leading to a significant market expansion in the product sales field worldwide. On the other hand, the risk of fraudulent credit card payments has been exposed both domestically and internationally.
According to a survey by the Japan Credit Association, the amount of damage caused by credit card fraud in 2023 will be a record high of 54.09 billion yen (*1). Furthermore, the amount of damage from overseas is also on the rise.
There are various reasons why credit cards are used fraudulently, including information leaks by card holders and by business operators.
If a company that operates an e-commerce business sells or delivers a product without knowing that the payment was made using a fraudulently used credit card, the e-commerce business (card member store) will have to issue a chargeback arrangement to the cardholder. You will have to repay the price, and there is a high possibility that you will not be able to return the item after it has been shipped. Furthermore, although there are risk assessment services for fraudulent payments in Japan and overseas, they mainly provide risk assessment scoring information, and the final decision on whether or not to approve a payment is left to the e-commerce business.
However, e-commerce businesses must spend a huge amount of time and man-hours to assess the risk of each order. There was also an opportunity loss in sales, as transactions that were disapproved to avoid risks were actually safe payments.
World Shopping
With “Secure Payment” provided by BIZ, you can avoid the risk of fraudulent payments and lost sales opportunities without having to go through these hassles.
(*1) Quote: Announced in June 2024 Status of damage caused by fraudulent credit card use (Japan Credit Association)
https://www.j-credit.or.jp/information/statistics/
・A track record of preventing fraudulent payments using the “Secure Payment” function
We recently investigated the occurrence of fraudulent payments from January to the end of June 2024, and so far we have detected and prevented 1,471 cases (equivalent to approximately 75 million yen) of accesses that appeared to be fraudulent overseas payments.
Furthermore, looking at the annual trends since the launch of Secure Payment, the number of transactions has increased since the launch of Secure Payment, resulting in a cumulative total of 30,124 transactions (equivalent to approximately 1.2 billion yen).
The “Secure Payment” function automatically determines whether a payment is fraudulent or not based on a huge amount of past
transaction data when a product order is received. If it is determined that fraudulent card use is being used, it will be immediately removed, making it possible to prevent fraudulent payments from occurring.
This feature is patented and is provided free of charge as part of the “WorldShopping BIZ” functionality.
If you are thinking of entering cross-border e-commerce, please consider it.
* ・Cross-border EC/Web Inbound White Paper 2024*
“WorldShopping” is about “cross-border e-commerce,” which is a growing need for overseas expansion.
Zigzag Co., Ltd., which provides “BIZ”, and overseas business support platform “Digima~Dejima~” have jointly created the “Cross-border EC/Web Inbound (R) White Paper”.
This book was created based on more than 4,500 latest overseas business consultations submitted to “Digima ~ Dejima ~”, a survey of companies considering expanding overseas, and market data held by Zigzag Co., Ltd. What kind of influence does the experience of visiting Japan have, and how do successful companies behave? The content is useful for companies considering expanding business overseas, as well as those already in the process.
White Paper Table of Contents Agenda (partial excerpt)
[Part 1] Current status of “cross-border EC” in overseas expansion ・“Cross-border EC” as a trend for Japanese companies to expand their overseas sales channels
・The form of cross-border EC is diversifying as a means of expanding sales channels for Japanese companies
[Part 2] User trends in major countries
・Consumer trends in China, where the presence of official websites increases as major e-commerce malls balance out
・Walmart cutting into Amazon’s stronghold! American consumer trends [Part 3] “Keys to success” deciphered from a survey of companies using cross-border e-commerce
・Attention is focused on the US and China, but also on Taiwan and the ASEAN market.
・What is the relationship between inbound initiatives and cross-border e-commerce business?
・Deeply digging into two products: “Food & Beverage” and “Clothing & Fashion Accessories”
▼You can download it for free from below.
Click here to download the white paper
■WorldShopping BIZ: Overview
“World Shopping
BIZ is a cross-border e-commerce service that supports all domestic e-commerce businesses who want to start selling overseas by providing comprehensive support, including multilingual support, overseas payments, and overseas shipping.
We provide support for language, payment, and logistics, which are barriers when starting overseas sales, as well as functionality to prevent fraudulent payments and a “Shop Dashboard” that visualizes overseas customer data. We provide safe and secure services that support e-commerce sales and have obtained 12 patents (*1) both domestically and internationally.
Service page URL: https://www.worldshopping.biz
* [Main features] *
・Language support
UI support when purchasing products: Multilingual navigation display/address input form display
Customer support: English/Traditional Chinese/Simplified Chinese/Korean/Japanese ・Payment support
Major overseas payments: Major credit cards/PayPal/Amazon Pay/ UnionPay/WeChat Pay/Alipay affiliated e-wallet
Measures against fraudulent payments: Secure payment function ・Logistics support
Shipping method: DHL/FedEx/EMS/International e-packet/ECMS Standard Express Trade support: Invoice creation/inspection/packing/international shipping arrangements
·others
Providing shop dashboard, sales promotion support
* ・ Request regarding the use of registered trademark “Web
Inbound(R)︎” *
“Web Inbound(R)︎” is a registered trademark of Zigzag Co., Ltd., which refers to users accessing Japanese e-commerce sites from overseas. As a general rule, we ask that you display the copyright when using this site.
-Display example-
・”Web Inbound is proposed by Zigzag Co., Ltd.” along with the company name ・Same article/Same screen states “Web Inbound (R) is a registered trademark of Zigzag Co., Ltd.”
[Patents related to services (obtained)]
・8 domestic, 4 overseas
[Registered trademark for services (approved)]
・13 domestic cases, 7 overseas cases
[Service award history] (partial excerpt)
・Won the Grand Prize of the Small and Medium Enterprise Awards 2022 “New Challenge Award” sponsored by the Power of Small and Medium Enterprises (2022)
・Won the 4th Japan Service Awards “JETRO Chairman’s Award” sponsored by the Service Industry Productivity Council (2022)
・Won the Tokyo Innovative Service Excellence Award at the “World Communication Competition 2021” sponsored by the Tokyo Metropolitan Government (2021)
* ・Company information *
Company name: Zigzag Co., Ltd.
URL: https://www.zig-zag.co.jp
Representative Director: Kazuyoshi Nakazato
Address: Hatchery Shibuya, 14-1 Sakuragaoka-cho, Shibuya-ku, Tokyo Established: June 24, 2015
Business details:
・WorldShopping BIZ: Cross-border EC support business, services for domestic businesses
https://www.worldshopping.biz./
・WorldShopping: Purchase and sales agency business, services for overseas users https://www.worldshopping.global/