"A properly prepped fraud team can help merchants recapture revenue from transactions they might ordinarily decline"
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Stop letting AVS mismatches <br />kill perfectly good orders

AVS (Address Verification System) was designed to combat CNP (Card Not Present) fraud. The idea behind this system is that cross-referencing the numeric portions of the billing address provided by the buyer with the numeric portions of the billing address on file at the credit card issuer would enable merchants to verify that the buyer is the rightful cardholder.

Payment processors encourage merchants to set automatic AVS mismatch filters as an anti-fraud measure. However, many merchants who use these filters do not realize that full AVS match does not ensure a transaction isn’t fraudulent, and on the flipside, orders with AVS mismatches are often legitimate.

In this post, we will show why rejecting orders solely based on AVS information is a bad idea.

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How to Ensure Optimal Fraud Team Performance During The Holidays

The holidays are an intense season for anyone in e-commerce, but those in charge of reviewing incoming orders for fraud really have their work cut out. Not only is there a dramatic increase in the overall orders, but Riskified’s data from previous holiday seasons shows that fraud on entry increases significantly as well.  Whether this increase in fraud is driven by fraudsters taking advantage of dramatically increased sales or by consumers committing “friendly fraud” due to stringent returns policies, handling these orders correctly is a challenge.

A properly prepped fraud team, armed with the right tools, can help merchants recapture revenue from transactions they might ordinarily decline.

Following are four steps merchants can take to ensure optimal performance during the holidays:


1. Prepare your team for the spike in order volume

The biggest challenge risk management teams face during the holidays is the sudden, dramatic spike of incoming orders. It is imperative that orders be processed expeditiously, otherwise the back-log could have customers waiting several days for order confirmation.

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No Touch<br />Refunds

Riskified’s entire business model is based on aligning interests with our merchants, which is why we charge only for orders we approve and work hard to make sure the process of getting a refund from Riskified is hassle-free. Our ‘no touch refund’ feature simplifies the process of receiving a refund on Riskified’s approval fee for orders that didn’t ship.

After successfully piloting this feature with several merchants over the past 3 months, we’re excited to roll it out to all of our customers.

What does this mean for you?

You no longer need to email our support team to receive a refund for the approval fee.

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Chargebacks<br />Made Easier

We’re excited to introduce our Chargeback Uploader tool that simplifies the process of getting reimbursed for chargebacks.

Chargeback Uploader Tool

With the Chargeback Uploader tool, you can receive reimbursement for fraud-related chargebacks by following three simple steps:

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Introducing<br />Shop Protection

We’re excited to officially launch our Shop Protection service today. With Shop Protection, Riskified takes over the entire risk management flow for merchants. We have been piloting this service for the past year with over two hundred merchants with outstanding results.

Check out our case studies for more details on how we have helped our merchants grow their business while avoiding the cost of chargebacks.

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Top Tips for Building your<br />Risk and Fraud Team

Last week, we shared our experiences in hiring, training and developing a world-class risk team with merchants worldwide via two informational webinars in partnership with the MRC.

If you missed out, we’ve included a snapshot summary below for how to find the right people to build your risk team. For the full picture on hiring, training and developing world class fraud analysts, you can watch the full webinar recording here.

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Beating the Rush: Keeping Operations Smooth When Order Volume Spikes

One of the biggest challenges of managing an operational team is staying one step ahead – spikes in inbound order volume happen throughout the year, and whether the result of the holiday season, promotional sale, or a successful marketing campaign, being proactive is paramount to ensure customer satisfaction and maximize sales conversion.

During these waves, many operational services provide flexible, on-demand solutions that can be activated for a specific period of time, without any disruption to the regular order flow. For example, UPS can provide scaled shipping solutions, and inventory operations, like manufacturing and storage, can adjust their volume and capacity as needed. If you host your shop on an ecommerce platform like Shopify or Magento, for instance, the platforms will automatically launch servers if the site is overloaded with traffic.

An often-overlooked part of an online business that can also benefit from a scalable on-demand solution is risk management and order review. When you suddenly receive an influx of orders, it can be beneficial to have a trustworthy service you can rely on to support the additional load. Once you integrate with such a service, you can begin automatically submitting orders for review, relieving pressure, and giving you peace of mind during high-volume periods.

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Expanding Your Horizons<br />and Global Reach

Deciding to expand into new markets is complex and goes well beyond simply trying to increase sales. The challenges are especially true for online merchants who must extensively evaluate the advantages against the associated risks and challenges of launching outside their domestic market. Allowing any customer with internet access to engage with a brand is incredibly powerful, but opening the metaphorical doors of an ecommerce business internationally comes with a unique set of challenges.

In particular, it’s important to consider how your fraud prevention team will adjust to the influx of orders that bring additional complexity: How do you begin to piece together a customer’s story when you receive an order from an unfamiliar location? How can you evaluate the validity of an order when you have no reference point?

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MRC 2014<br />Wrap-Up

It’s been a week since the Merchant Risk Council E-Payments and Risk Conference in Las Vegas, and we were inspired by the new connections and introductions made at the conference. Thanks to everyone who met with us; we really appreciated learning about the challenges enterprise payments and risk professionals face, and it only reaffirms our vision of what a risk platform should be. We remain committed to providing a solution that meets your needs.

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Introducing:<br />New order data toolbar

We are pleased to announce that based on your feedback, we have made improvements to our web application. The new design – which we will be rolling out today – will enable you to get better insights about each individual order, including a better display of mismatches and individual decline reasons.

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