“I would say Riskified changed our lives.”
Eileen Shulock, VP eCommerce at Kirna Zabête
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All posts with the tag Chargeback Guarantee

Businesses are often under the impression that moving operations online will be a cheap and easy way to increase profit margins. There are of course many benefits to selling online, however there are also huge costs involved in running an eCommerce store. A recent study suggests that between order management, SEO, and other expenses invisible to the shopper, margins are often even thinner online than they are in-store. And the truth is, this study likely overestimates eCommerce merchant’s margins because it doesn’t account for losses incurred due to CNP fraud.

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Global online retail sales are projected to exceed $2 trillion in 2017, and double to $4 trillion by 2020. Despite this rapid growth, selling online is not without its challenges, and eCommerce merchants are increasingly seeing their hard-earned revenue fall victim to CNP fraud and the associated chargebacks. A 2016 study confirmed this, with online merchants reporting that chargebacks accounted for much of their fraud-related revenue loss.

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As the global eCommerce market continues to grow, eCommerce fraud will follow the same trend. Unfortunately, almost all eCommerce merchants have experienced the pain of fraudulent chargebacks. While it is possible to minimize chargebacks by rejecting all “risky” transactions, such a strategy is bad for business, as many good customers will be turned away along with the bad ones. In fact, our data suggests that 66% of orders typically declined by eCommerce merchants are actually placed by legitimate customers and should have been approved.

To help merchants accept more orders without the risk of costly chargebacks, we offer full chargeback guarantee on all Riskified-approved orders. In this article, I explain how our chargeback guarantee works, what it covers, and why Riskified offers this service.

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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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Customers usually ask how our solution is different from the competitors’. When I talk about TCP/IP stack, SOCKS(4/5) proxy detection and verification principles it’s hard to make the sale. Apparently everyone has the best technology and hearing me talk about the internet protocol suite is as much fun as a root canal.

This forced me to better articulate why Riskified is different.

We’re different because of our unique pricing structure:

  • A merchant receives a transaction and decides to decline it due to risk related reasons
  • Instead of declining the transaction he goes ahead and submits it to Riskified
  • We review the transaction and make a final decision
  • We charge a fee only if we were able to approve the transaction
  • Transactions we decide to approve are guaranteed by us in the event of fraud
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