Japanese fashion platform “and ST“ Co., Ltd. Improves Authorization Rates by 15% and Reduces Fraud with Riskified

Japanese fashion and lifestyle ecommerce platform improves payment approval rates and reduces fraud while enhancing checkout experience

Tokyo, JP – August 24, 2026 –Riskified (NYSE: RSKD), a global leader in ecommerce fraud detection and risk intelligence, has partnered with “and ST” Co., Ltd., the ecommerce subsidiary of “and ST” HD to optimize its ecommerce platform. Through this collaboration, “and ST” will improve authorization rates, sustainably reduce fraud, and streamline payment operations to create a secure experience for online shoppers.

Serving as a digital hub where group brands such as “GLOBAL WORK”, “niko and …”, and “LAKOLE” as well as third-party partner companies gather, and ST is rapidly expanding. For the full fiscal year ending February 2026, the platform achieved a GMV of ¥46.2 billion, up 114.8% year over year. Furthermore, as of the end of June 2026, the number of brands featured on the platform has surpassed 100, with total members exceeding 22.2 million.

As ecommerce volumes increased, “and ST” faced growing fraud pressure alongside evolving payment authentication requirements in Japan. To strengthen fraud prevention, the company implemented EMV 3-D Secure (3DS) across transactions. While this helped reduce fraud exposure, requiring authentication across transactions also contributed to lower authorization rates and increased false declines. Internal teams were also spending significant time manually reviewing flagged orders, creating additional operational burden.

In parallel, “and ST’s” acquiring bank flagged the company as a “Fraud-Exposed Merchant,” highlighting the need for a more effective approach to balancing fraud prevention, payment performance, and customer experience.

To address these challenges, “and ST” partnered with Riskified to strengthen fraud prevention while improving payment performance. The solution combined real-time AI-driven fraud detection with operational support across the customer journey, including protection at account creation and login stages.

A key component of the partnership was the implementation of EMV 3-D Secure “Pattern 1” operations. Based on merchant-defined risk assessment and precise identity intelligence, Riskified enables low-risk transactions to bypass 3DS authentication entirely, while higher-risk transactions undergo additional verification when required. The approach was supported by a 24/7 monitoring framework, an internal “and ST” security team, and conversion and GMV impact modeling used during the acquiring bank approval process. Approximately eight months after working with Riskified (as of January 2026), “and ST” achieved:

• Authorization rates increased by 15% vs. the prior period
• Fraud chargebacks reduced to approximately 0.0005%, effectively near zero
• Manual fraud review eliminated, saving approximately 10 hours per week
• Checkout became more streamlined, improving the customer experience

“With Riskified in place, we’ve been able to significantly reduce unnecessary friction at checkout while maintaining strong fraud protection,” said Yumiko Honda, Ecommerce Manager at “and ST” Co., Ltd. “We saw a clear improvement in approval rates, and removing manual review work has made a meaningful difference to our operations.”

“Many merchants assume they have to choose between stronger authentication and higher conversion, but ‘and ST’ demonstrates that the two can go hand in hand,” said Aviram Ganor, General Manager APAC at Riskified. “By applying authentication selectively and using AI-driven risk decisions behind the scenes, merchants can reduce fraud, improve authorization rates, and create a better customer experience at the same time.”

“and ST” joins other leading Japanese ecommerce companies working with Riskified, including Lacoste Japan, United Arrows, AKOMEYA TOKYO, as merchants continue to adapt to evolving payment authentication requirements and increasing fraud threats in the domestic ecommerce market.

About and ST Co.,Ltd.

and ST Co., Ltd. operates the “Play fashion!” platform “and ST,” which connects a wide variety of brands, categories, people, and experiences. As a “Play fashion! platformer,” the company co-creates new value with customers and business partners. By combining fashion, technology, and community, and ST aims to evolve shopping into a playground—realizing “retailtainment” that transforms the purchasing process into an exciting experience.

About and ST HD Co., Ltd.

and ST HD transitioned to a holding company structure on September 1st, 2025. We are a multi-company group encompassing more than 45 apparel brands and life style business covering the three basic human needs of clothing, food, and shelter.