Riskified: The eCommerce Fraud Prevention Solution with Chargeback Protection

Riskified is an eCommerce fraud prevention solution that focuses on improving conversion rates and reducing chargebacks by leveraging machine learning and data analysis. The platform is designed specifically for online retailers, offering tools to prevent payment fraud, account takeover, and other forms of eCommerce fraud. Riskified’s approach combines real-time decision-making with chargeback guarantees, making it an ideal choice for eCommerce businesses looking to maximize revenue while minimizing fraud-related losses.

Key Features

• Chargeback Protection: Offers a chargeback guarantee, where Riskified assumes liability for any approved transactions that result in a chargeback, reducing financial risk for merchants.
• Real-Time Decisioning: Analyzes transactions in real-time, approving or declining orders instantly based on machine learning models and fraud detection algorithms.
• Account Protection: Detects and prevents account takeover attempts by monitoring login behaviors and identifying suspicious activities.
• Order Automation: Automates the review process for high-risk orders, allowing businesses to focus on growing their sales without worrying about fraud.
• Analytics and Insights: Provides detailed reports and insights into transaction patterns, customer behavior, and fraud trends, helping businesses optimize their operations.
• Global Network: Leverages a global network of eCommerce transactions to enhance fraud detection accuracy and improve decision-making.
• Integration with eCommerce Platforms: Seamlessly integrates with popular eCommerce platforms like Shopify, Magento, and WooCommerce, making it easy to implement and manage.

Benefits

• Reduced Chargebacks: Riskified’s chargeback guarantee shifts the financial liability of chargebacks away from merchants, providing peace of mind and protecting revenue.
• Improved Conversion Rates: By accurately approving legitimate transactions and reducing false declines, Riskified helps businesses increase their sales and customer satisfaction.
• Streamlined Operations: The platform’s automation and real-time decision-making reduce the need for manual order reviews, allowing businesses to scale more efficiently.
• Comprehensive Fraud Protection: Riskified offers robust protection against a wide range of eCommerce fraud, ensuring the security of online transactions and customer accounts.

Strong Suit

Riskified’s strongest feature is its chargeback protection and real-time decisioning, making it an ideal choice for eCommerce businesses looking to reduce fraud-related losses while maximizing revenue.

Pricing

• Performance-Based Pricing: Riskified typically charges a percentage of the approved transaction value, aligning its success with the success of the merchants it protects.

Considerations

While Riskified offers strong protection and chargeback guarantees, its focus on eCommerce may limit its appeal to businesses outside of this sector. Additionally, its performance-based pricing model may be more suitable for larger eCommerce operations that process a high volume of transactions.

Summary

Riskified is an eCommerce fraud prevention solution that offers real-time decisioning and chargeback protection to help online retailers reduce fraud-related losses while maximizing revenue. Its focus on improving conversion rates, automating order reviews, and providing chargeback guarantees makes it an excellent choice for eCommerce businesses looking to enhance their fraud prevention efforts. However, businesses outside the eCommerce sector may need to explore other options better suited to their needs.