Ruisifei Digs Deep into China's Cross border E-commerce Market Opportunities | China | Opportunities
At the end of 2020, e-commerce and online transaction anti fraud company Ruisifei announced its entry into the Chinese market, committed to providing anti fraud solutions for cross-border e-commerce businesses of Chinese merchants. Edo Gail, CEO of Ruisifei, stated in an interview with Economic Daily that over the past two years, the company has developed smoothly in the Chinese market and achieved its expected goals. Ruisifei is very optimistic about the development prospects of the Chinese market and will further explore opportunities in the Chinese cross-border e-commerce market.
Ruisifei was founded in Israel in 2013. The company is committed to providing anti fraud solutions for customers in cross-border e-commerce business. While filtering out fraudulent orders, it improves the conversion rate of user orders and helps customers provide a better consumer experience.
Edo Gail introduced that the team size of Ruisifei China is currently nearly 20 people, and the company has cooperated with multiple Chinese corporate clients. "Nowadays, more and more Chinese companies have a full industry chain, including manufacturing, sales, branding, logistics, payment, etc., becoming large global enterprises." Ido Gael said, "Enterprises selling products in the global market face a more fragmented and complex payment environment than the Chinese market. In other countries, cash and credit card usage rates are higher, there is less collectible payment data, and the risk of transaction fraud is greater."
Edo Gail stated that Ruisi Fei has processed over 1 billion transactions for online trading merchants worldwide and has a vast database. The company also has a better understanding of the payment environment in various regions, and can provide assistance to Chinese customers participating in global sales to ensure that they avoid payment risks and fraud issues during their overseas journey.
Since the beginning of this year, generative artificial intelligence has ignited the market and brought new tests and opportunities to cross-border transactions. Ido Gail stated that after the emergence of generative artificial intelligence, some unscrupulous fraudsters are also using it to create more complex and difficult to identify fraudulent behaviors and transactions. For merchants, the difficulty of dealing with payment fraud has also increased.
"We will use constantly updated technology to respond to the ever-changing fraudulent methods of fraudsters, to help businesses. At the same time, such technology and development trends can also help our anti fraud models improve identification accuracy, bring customers better quality and more accurate services. Therefore, this is a good development opportunity for us," said Edo Gayle.
When it comes to the future of the Chinese market, Edo Gale said that Ruisi Fei has great confidence and optimism in the Chinese market, mainly considering several factors: first, China has very high-quality human resources; Secondly, although the domestic market in China is already a very large market, many Chinese entrepreneurs and entrepreneurs still set their business goals on a broader global market. They not only hope to operate the Chinese market well, but also hope to build their corporate brand into a global brand. We believe that this trend will continue. These factors will help Ruisifei achieve better development in the Chinese market.