2016 is drawing to a close and the holiday shopping season is in full swing. From free shipping to major discounts, businesses are throwing in all sorts of different promotions to gain customer attention. But how well are these methods working? Which are worth the time and cost, and which are just wasted efforts?
At Shippo we recently surveyed both US-based consumers and US merchants to find out what shoppers are expecting, and what other businesses are offering. Here are some of our most important findings.Read More
Riskified is excited to announce the opening of our New York City offices!
Located in midtown Manhattan, our US branch will serve as the base for Riskified’s merchant-facing operations in North America, including technical support, account management, and business development. The new location joins our Tel Aviv headquarters to bolster our rapid global growth and drive business partnerships in the North American market.Read More
Christmas time is widely recognized as one of the biggest online shopping periods of the year. Online sales are expected to exceed $90 billion this holiday season in the US alone. Yet despite the significant resources businesses invest in preparation for these busy weeks, heightened competition and growing consumer expectations make it harder for retailers to successfully attract the attention of savvy customers online.
In fact, many online merchants limit their ability to monetize the holiday opportunity for two main reasons: failing to devise a clear omni-channel strategy and misunderstanding international shoppers. In this post, I touch on the various ways in which retailers can maximize eCommerce revenue this holiday season and throughout the year.Read More
Holidays are traditionally all about family, food, and community. But there’s a new kid on the block, a modern holiday centered not around family, but around bachelorhood. Single’s Day is held annually on November 11, or 11/11 – glorifying the digit 1. Branded a major cyber holiday by China’s eCommerce giant Alibaba in 2009, it has since smashed global online shopping records, with sales reaching $14.3 billion last year. The opportunity is immense; in the US, merchants are already aiming to brand Single’s Day as the “Black Friday” of luxury goods.
But what do the shopping patterns of single shoppers mean for eCommerce merchants? Ahead of Single’s Day, we analyzed our data on single-item shopping carts across online verticals, and sought the correlation between single-item orders and eCommerce fraud.Read More
By 2020 the global online travel market is expected to be worth a whopping $817 billion. Mobile sales, or mCommerce, are becoming an increasingly important revenue stream within this market. In fact, mobile purchases will soon account for 70% of all digital travel sales in the US.
Unfortunately, as the online travel markets grows, so does card-not-present (CNP) fraud. Online travel businesses must accommodate the influx of mobile consumers, while ensuring they have adequate tools to scrutinize these orders for fraud. Riskified reviews hundreds of thousands of online travel orders. While analyzing our data on fraud in online travel, we uncovered interesting patterns related to travel mCommerce.Read More
Balancing the needs to provide a great experience for shoppers, prevent fraud, and maximize sales revenue is one of the biggest challenges online merchants face when managing card-not-present (CNP) fraud. In this post, we explain how Riskified’s Magento fraud protection extension allows merchants to meet all of these needs – accurately detecting and preventing fraud while maintaining a streamlined shopping experience, and ensuring legitimate customers aren’t wrongly turned away due to suspected fraud.Read More
For online fraudsters who spend all year hiding behind masks, Halloween is just business as usual. Fraudsters who obtain stolen credit card details and hide behind makeshift email accounts are especially fond of digital goods, because of their high resale value and instantaneous over-the-web delivery. These goods, mainly digital gift cards, airline and event tickets tend to attract the most sophisticated and devious fraudsters.
Over the course of several years, Riskified reviewed millions of orders, including many instances of obvious and subtle fraud. Below, we lay out some of the most common ‘‘tricks” we’ve identified which fraudsters use to swindle retailers. These includes tips on shady order elements to look for, as well as methods used by fraud rings that our in-house tools were able to identify, and which we think merchants should be aware of as they track and review orders.Read More
The stress of the holiday season is intense, and all the more so for eCommerce fraud teams. Soaring order volume means there is less time to thoroughly review orders, and teams that hire seasonal help to keep up with the load have to rely on analysts that are less experienced at the tedious task of uncovering Card Not Present (CNP) fraud. Among the influx of orders are many new customers who present a huge opportunity for merchants, but they can also appear threatening–especially if they’re from new and unfamiliar markets. It’s crucial for merchants to be prepared for the fraud patterns that are likely to emerge between Black Friday and New Years.
Riskified helps hundreds of eCommerce merchants manage their fraud during the busy holiday season. We’ve drawn on our experience to present some tips on analyzing and organizing your data, so that your fraud team is situated to optimally handle the surge in orders, drive revenue, minimize false-positive declines, and maintain a smooth shopping experience for your customers.
Consumers are increasingly going online for their holiday shopping, with this season expected to generate the highest eCommerce order volume ever. Holiday shoppers present an enormous revenue opportunity to eCommerce retailers. However, this season is also a source of challenges for fraud teams: much of the order spike will come from hard-to-verify international cards, and since order amounts are greater, the stakes are higher on every approve/decline decision.
Riskified’s design team created the following infographic, which presents our fraud predictions for the upcoming holiday season. We hope this gives merchants and fraud teams valuable insights as they prepare to deal efficiently with what is expected to be the busiest and most successful holiday season to date.Read More
When it comes to protecting their revenue from fraud, airlines and online travel agencies (OTAs) find themselves in a catch-22. Strict rules and fraud filters reduce chargebacks, but given that clear-cut fraud only occurs in approximately 2% of card-not-present flight orders, these measures also inevitably lead to costly false declines and disgruntled [ex]customers.
In this post I discuss how airlines and OTAs can manage this conflict by using data from a range of sources to evaluate orders containing mismatches, rather than relying on discrete data points to identify and block ‘suspicious’ customers. By investigating online shopping behaviour through less formal fraud detection techniques, online sellers can leverage their data to get ahead of the game and boost online revenue.Read More