Say Bye-Bye To Merchant Chargebacks

Online fraud and risk management solution Riskified announced that it has lowered its price for flagship Shop Protection service by 50 percent to 0.7 percent per transaction, according to a company release. The new lower price for the service will allow for significant cost savings for online merchants, who have previously lost an average of 1 percent of their total sales due to chargebacks. Every approved transaction is also backed by Riskified’s 100 percent chargeback guarantee, shifting the liability for any chargeback to Riskified and eliminating them for merchants.

Riskified is offering to review, approve and guarantee the first $50,000 in sales for free to encourage new merchants to try its flagship Shop Protection service, which analyzes all of a merchant’s online orders, and approves 99 percent of them on average, including up to 74% of transactions that might normally be declined due to possible fraud. Riskified’s global fraud network also works to identify fraud patterns and block fraudulent transactions originating anywhere in the world, aiming to help merchants increase conversions and recapture lost revenue.

“Riskified’s Shop Protection service represents the end of chargebacks for online merchants,” Eido Gal, founder and CEO of Riskified, said in the release. “Over the past two years, technology improvements and operational efficiencies have enabled Riskified to reduce the price of our flagship service and pass along the saving to our customers. Combined with Riskified’s 100% chargeback guarantee and our ability to recapture lost revenue, the new lower price for Shop Protection makes e-commerce more cost effective, profitable and secure.”