The integration allows merchants using commercetools to combat payment fraud while ensuring a frictionless customer experience, the companies said in a Tuesday (Aug. 1) press release.
“Merchants should never have to choose between stopping fraud and offering legitimate customers a friction-free experience, yet retailers often face this hurdle,” Riskified Vice President of Channel Partnerships Kevin Sprake said in the release. “Our integration with commercetools helps us solve this problem for a larger pool of merchants, and we are confident that this collaboration will empower them to optimize operations, protect revenue and provide a secure environment for shoppers.”
Riskified leverages machine learning (ML) and merchant data to approve legitimate transactions and reject fraud in real time, guaranteeing eCommerce revenues and safeguarding against financial loss and reputational damage, according to the release.
Solutions will be available via commercetools’ Integration Marketplace so that merchants can implement Riskified’s Chargeback Guarantee, the release said. This offering joins the commerce functionality that commercetools offers to merchants.
“At commercetools, our main mission is to support the success of merchants in today’s highly competitive eCommerce landscape,” Blaine Trainor, vice president of global partnerships and alliances at commercetools, said in the release. “In integrating Riskified’s cutting-edge risk management solution, we underscore this commitment, helping merchants to cut costs associated with fraud while improving the overall customer experience.”
Customers expect great service no matter what channel they’re shopping in, Riskified Vice President Marina Moraes told PYMNTS in an interview posted in June 2022.
To meet consumers’ expectations, retailers must deliver seamless and personalized experiences, convenience and speed, Moraes said at the time.
“We see that many consumers report prioritizing convenience over pricing when selecting an online retailer,” Moraes said. “Merchants are having to respond by innovating and finding new ways to connect with their consumers to increase the customer lifetime value.”