Bukalapak will leverage Vesta’s fraud solution to maximise approvals of legitimate credit card transactions, and thwart would-be fraudsters, delivering security to Bukalapak and its customers. Vesta’s real-time decisioning platform provides the analytics and authentication technology required to increase approvals of legitimate sales while rejecting bad transactions.
Positioning itself as an All-Commerce company, due to the breadth of customers it serves and products it sells through both online and offline platforms, Bukalapak enables small and medium enterprises to harness the power of technology and scale their businesses. More than 100 million active users shop on the site, resulting in a Total Processing Value (TPV) of USD 6 billion in 2020. The company announced an IPO plan in early July 2021 and has been officially listed on the Indonesia Stock Exchange (IDX) on 6 August 2021 for an initial price of 850 Rupiah per share, with a total market cap of USD 6.2 Billion.
According to DBS Insight Asia, reports of increasing ecommerce fraud is a primary reason why consumers are reluctant to shop online in Indonesia. By investing in a secure platform, Bukalapak will bolster consumer confidence in ecommerce and assure current and new customers that online shopping is convenient, safe, and satisfying.
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