Riskified Announces Expanded Chargeback Management System to Soothe the Chargeback Holiday Hangover and Maximize Revenue Recovery
11 Gennaio 2024 - 8:45PM
Business Wire
Dispute Resolve can improve win rates by as
high as 35%; platform enhancements empower merchant teams with the
flexibility to automate disputes at scale, providing a one-stop
solution for chargeback management
Riskified (NYSE: RSKD), a leader in ecommerce fraud and risk
intelligence, today announced further expansion of its Dispute
Resolve platform that streamlines chargeback operations for
merchant teams, particularly as they face the typical surge in
chargebacks after the holidays. The solution leverages expanded
gateway and artificial intelligence integrations to auto-compile
and format compelling evidence for every chargeback, saving teams
time and enabling them to dispute more chargebacks.
A credit card chargeback is a process by which a card owner
contests a purchase directly with their issuer, which can force a
merchant to reverse the transaction. This process can be abused by
a consumer who makes a legitimate purchase, but then falsely claims
harm or fraud in order to obtain a refund. To recover the revenue,
chargeback managers must evaluate the legitimacy of a chargeback,
and dispute the false claim by gathering and submitting “compelling
evidence”. However, the process for compiling compelling evidence
and disputing chargebacks is often a manual, time-consuming
process, fragmented over several platforms. The result is that the
majority of merchants recover less than half of chargebacks,
according to a forthcoming study by Riskified. Built to streamline
and speed up revenue recovery, Dispute Resolve empowers merchants
to centralize and manage all chargebacks, harness automation to
minimize manual effort, and customize workflows to enhance existing
operations.
“The broader ecommerce environment continues to brighten and
grow, but with that comes the opportunity for increased
chargebacks. Chargeback management is another financial center
that’s primed for digital transformation, since today much of the
process is terribly manual, time-consuming, and hinders teams from
disputing as many chargebacks as they can. With Dispute Resolve,
merchants have full control over their chargeback dispute
operations. They can choose to automate specific segments or
outsource the entire dispute process,” said Eido Gal, CEO and
Co-founder of Riskified.
“Hotelogical’s in-house analyst produces outstanding win rates,
and Riskified’s Dispute Resolve enabled her to maintain and scale
that performance as we grew. Consolidating data and automating
menial tasks allowed her to focus her time, insights, and expertise
100% on revenue recovery,” said David Hobbs, CEO of
Hotelogical.
Using Riskfied’s Dispute Resolve platform, merchants can
efficiently manage many of the manual processes that are typically
associated with the chargeback dispute process. For example,
merchants can automatically gather intelligence about the
individual's purchase history and their order details before
deciding which chargebacks to dispute. After building their case,
merchants can submit their dispute to issuing banks automatically
and monitor the status of those disputed transactions in real time.
Additionally, merchants can leverage customized and optimized
compelling evidence letters for their disputes. Early results show
that merchants may be able to boost chargeback win rates by as much
as 35% by switching to Riskified. Along with the ability to view
all of their data and results in one consolidated dashboard,
merchants using Dispute Resolve can achieve superior performance
and savings.
For a demo video of the value Dispute Resolve delivers to
chargeback operations teams, click here. Sign up to pre-register
for Riskified’s upcoming research on the state of chargeback
management (coming early 2024).
About Riskified
Riskified (NYSE:RSKD) empowers businesses to grow ecommerce
revenues and profit by mitigating risk. An unrivaled network of
merchant brands partner with Riskified for guaranteed protection
against chargebacks, to fight fraud and policy abuse at scale, and
to improve customer retention. Developed and managed by the largest
team of ecommerce risk analysts, data scientists, and researchers,
Riskified’s AI-powered fraud and risk intelligence platform
analyzes the individual behind each interaction to provide
real-time decisions and robust identity-based insights. Learn more
at Riskified.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240111717989/en/
Aileen McNelis PR for Riskified amcnelis@nexttechcomms.com
Cristina Dinozo Sr. Director of Communications
press@riskified.com
Chett Mandel Head of Investor Relations ir@riskified.com
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