Buymed and SHIELD Partner to Fight Fraud in the Healthcare Ecosystem

Buymed, Southeast Asia’s leading healthcare e-commerce platform, has signed a partnership with SHIELD, an AI-based device risk analytics platform.

Mr. Hoang Nguyen - CEO of Buymed and Mr. Justin Lie - Founder and CEO of SHIELD signed a cooperation agreement

This strategic partnership establishes SHIELD’s Device Intelligence solution as Buymed’s first line of defense against fraud and aims to protect consumers, pharmacies and pharmaceutical companies from the risk of fraud that can threaten the supply and quality of essential medical products.

By leveraging SHIELD’s Device Intelligence solution, Buymed successfully eliminated listings of counterfeit accounts and products, increased detection of users using multiple accounts by up to 190%, and ensured an uninterrupted supply of high-quality medical goods.

Traditional anti-fraud solutions often require access to users’ personal data for security purposes, requiring them to provide detailed personal information to verify their identity or make a transaction. However, Buymed is taking a different approach by leveraging SHIELD’s privacy-first Device Intelligence solution to eliminate fake accounts and fraudulent activity at the source without requiring any personally identifiable information (PII).

With SHIELD Device ID, a feature built on the global standard for device identification and detailed real-time user behavior analysis, Buymed can quickly identify and prevent fraudulent activities before they cause damage. Thanks to these factors, Buymed can proactively address fraud threats, ensuring they remain the most trusted e-commerce platform in Vietnam's healthcare industry.

“Our partnership with SHIELD has created a crucial first line of defense against fraud, helping us ensure equitable access to medical supplies. At the same time, Buymed maintains the transparency and trustworthiness of the platform, as well as the security of users’ personal data. With SHIELD on board, we can confidently expand into new markets,” said Hoang Nguyen, CEO of Buymed.

KIM THANH

Source: https://www.sggp.org.vn/buymed-va-shield-hop-tac-chong-gian-lan-trong-he-sinh-thai-cham-soc-suc-khoe-post755371.html