What is Riskified?
Riskified is a leading global ecommerce platform that harnesses the power of AI-driven fraud prevention and risk intelligence. With a focus on chargeback fraud protection, Riskified enables ecommerce enterprises to not only safeguard their operations against fraudulent transactions but also to enhance their revenue and customer experience. By leveraging advanced analytics and a vast network of data attributes, Riskified delivers precise decision-making capabilities that equip merchants to combat fraud and policy abuse effectively.
What are the features of Riskified?
Chargeback Guarantee: Riskified offers a groundbreaking chargeback guarantee, allowing merchants to transfer fraud liability from their businesses onto the Riskified platform. This feature prevents losses from fraudulent transactions while promoting growth in revenue by approving more legitimate orders.
Dispute Resolve: Simplifying chargeback management, Riskified’s Dispute Resolve feature integrates seamlessly into existing ecommerce systems. This solution provides real-time analytics and an intelligent platform for managing disputes efficiently, helping merchants to recover lost revenue from chargebacks.
Account Secure: Protecting customer accounts from account takeover (ATO) attacks is crucial for maintaining trust and credibility. Riskified’s Account Secure function blocks unauthorized access attempts, ensuring a safe shopping experience.
Policy Protect: This feature combats policy abuse by preventing refund, promotional, and reseller abuse. Merchants can offer an excellent shopping experience while safeguarding their sales integrity and customer loyalty.
PSD2 Optimize: With the introduction of the Revised Payment Services Directive (PSD2) in Europe, Riskified helps merchants balance the risks of fraud with a seamless customer experience, thereby driving conversions and reducing friction.
What are the characteristics of Riskified?
- AI-Powered Decision Making: Utilizing machine learning algorithms, Riskified analyzes over 480 data attributes, providing precise fraud detection capabilities that outperform competitors.
- Customizable Solutions: Riskified understands that every business is unique, and thus offers tailored solutions to align with specific merchant objectives and goals.
- Frictionless User Experience: By streamlining the payment process for legitimate transactions, Riskified ensures a smoother customer experience, leading to increased satisfaction and retention.
- Robust Reporting Tools: Merchants have access to comprehensive reporting tools that offer insights into their fraud management performance, helping them refine their strategies.
What are the use cases of Riskified?
- Digital Goods: Merchants selling digital products can benefit from Riskified’s chargeback guarantee, which mitigates the high risks often associated with downloadable products.
- Retail: Traditional retail businesses transitioning to ecommerce can leverage Riskified’s platform to ensure a higher transaction approval rate while minimizing fraud-related losses.
- Luxury Fashion: The luxury goods market demands high security due to the high value of items; Riskified protects against fraud while enhancing the customer experience.
- Travel Industry: Travel-related ecommerce platforms can streamline bookings while safeguarding against fraud, ensuring customers feel secure during their transactions.
- Athletic & Outdoors: Ecommerce merchants in the sports sector can rely on Riskified to maintain customer loyalty and reduce losses from fraudulent orders.
How to use Riskified?
- Integrate the Platform: Merchants should start by integrating Riskified's platform into their ecommerce site. The setup is user-friendly and works with various ecommerce systems.
- Customize Settings: Tailor the fraud prevention settings to align with specific business goals and risk tolerance.
- Monitor Transactions: Utilize the dashboard to monitor incoming transactions and view analytics that provide insights into your fraud management practices.
- Review Reports: Regularly assess performance reports to identify trends, adjust strategies, and enhance overall decision-making in fraud management.
- Leverage Customer Support: Engage with Riskified’s expert support team for assistance with complex queries or to customize solutions further.
