All posts with the tag Chargeback Protection
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.Read More
It seems like every tech company is using machine learning these days. Or, at the very least, talking about it. It’s a cutting-edge concept that’s getting a lot of buzz. But what does it really mean? In this post, I’ll first explain the basics of what the term means, and then how Riskified uses machine learning to drive accuracy when vetting orders for fraud.
How does Netflix know what I want to watch?
Why is Netflix so popular? Yes, they have a great selection of old movies, and their original content keeps getting better. But one of the features that really sets them apart from the competition is the accuracy of their viewing suggestions, tailored to your taste based on what you’ve watched previously. Sometimes it feels like they know exactly what you want to watch. How did they do it?Read More
One of the biggest challenges eCommerce retailers face is avoiding the rising number of chargebacks resulting from CNP fraud. In a 2016 study, online merchants reported that around half their fraud-related revenue loss was a direct consequence of chargebacks.
Many of these are the result of clear cut fraud – where stolen credit card information is used to make a purchase without the authorization of the cardholder. But an increasing number of chargebacks are the result of ‘friendly fraud’, when an individual disputes a purchase, despite having authorized and received it.Read More
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.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
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.Read More
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:
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.