Ephraim Rinsky
Many of the conversations Riskified has with eCommerce merchants revolve around quantifying the impact of CNP fraud on their online business. It’s a tricky thing to figure out. There are chargebacks, sure, but then there are the costs associated with preventing fraud, like detection tools and operational expenses. And most hard to measure are false … Continued
Most CFOs don’t spend time thinking about fraud management – and that might be a mistake. The steps taken by your eCommerce operation to manage fraud directly impact your bottom line. An approach steered by fear of fraud will hurt business’ cash flow through lower approval rates – and on the flip side, an operation … Continued
What does 2019 have in store for our industry? Here are five eCommerce and fraud trends that omnichannel retailers and online merchants should keep an eye on to protect their bottom line. 1. Emerging markets: The eCommerce battleground This past summer, Walmart acquired a majority stake in Flipkart, an Indian eCommerce company. Experts anticipate that … Continued
Ecommerce is a critical cog in the European economy, and growing in importance. In 2017, European online sales grew 11%, and in 2018 they will grow another 13%, resulting in an annual volume of $602 billion Euros. But there’s evidence that this online market has the potential for even more robust growth. According to a 2017 … Continued
We’ve written extensively in this blog about the scope and cost of false declines. Riskified estimates fear of fraud leads merchants to decline good orders at a total value equivalent to 5.5% of their annual online revenue. But false declines are only one leak in the payment funnel – most merchants don’t realize that around … Continued
Suppose you’re a seventeen-year-old who wants to buy a bottle of vodka from the liquor store. The problem, of course, is that you’re underage, and the cashier is definitely going to ask for some ID. So you have two ways to beat the system: buy/steal the ID of someone who looks a bit like you, … Continued
Fraud is becoming more and more sophisticated, as cybercriminals try and keep a step ahead of fraud management solutions. This arms race is likely responsible for the recent surge in ATO – account takeover attacks, a form of fraud which is particularly difficult to detect. In 2016 ATO led to $2.3 billion in losses – well over a … Continued
In 2017, the average merchant had roughly 1.5% of their revenue consumed by false declines. These are orders that are perfectly legitimate, but end up being canceled by merchants who either have strict rules in place, or are just uncomfortable with one or more data point in the order. So who are the people most … Continued
The 2017 holidays rewrote the eCommerce record books, and once all the data is in we’ll surely find that, as a whole, it was yet another record-setting year for online sales. But along with this surge in eCommerce, we saw CNP fraud popping up in new places and taking new forms. In this post, I’ll … Continued