The New & Improved Riskified Cost of Fraud Calculator

February 19, 2020 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 declines - the cost of good orders that are rejected. It's an invisible problem - a problem of lost opportunity - but one that's often more significant than all the other costs put together.

So we decided to make things easy. Our fraud experts teamed up with our design team to build a new cost of fraud calculator. It gives merchants a quick way to estimate how much online fraud is costing them. It's important to note that this is just a high level estimate, and doesn't include losses due to other issues like payment declines, or loyalty fraud. But it’s a great opportunity to identify areas where your business can improve. Take two minutes and try it out.

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