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

This Mother’s Day is projected to bring in $23.6 billion in revenue, easily clearing last year’s record of $21.4 billion. For many eCommerce retailers, optimism about the surging order volume over this major shopping holiday is tempered by fear of CNP fraud. As Mother’s Day approaches, we analyzed historical order data to provide eCommerce merchants with tips and insights to help streamline the fraud review process in the days leading up to this lucrative opportunity.

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The online gift card market is thriving. Ecommerce sales of gift cards are increasing by 29% YOY, and by 2018, the US gift card market is expected to be worth $160 billion, driven primarily by surging digital gift card sales.

Riskified’s work with Fortune 500 retailers who sell gift cards, as well as leading gift card-only merchants and P2P secondary gift card marketplaces, has afforded us enormous insight into the CNP fraud challenges facing gift card sellers. We have drawn on this experience to compile a report sharing data about fraud patterns in online gift card sales, and outlining best practices for anyone selling gift cards online. In this post, I share a few of the key findings that appear in the full report:

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Anyone who has ever played or watched a poker game knows that any money one side wins is money that their opponents lose (trust me when I say from experience that when losing money playing poker the same concept applies, only in reverse). This is a classic example of a “zero-sum” game, in which one player’s loss is another player’s gain.

In this post, I use poker as an analogy to explain why false positive declines – the unfortunate mistake of rejecting legitimate orders due to suspected fraud – are especially devastating for merchants selling digital goods such as gift cards and e-tickets.

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