IMPORTANT – Read carefully the following agreement before downloading, installing or using the Software or using the Service (as defined below).
By downloading, installing or using the Software or Service, you (defined in this Agreement as the “Client”) agree to be legally bound by this AGREEMENT. If you do not agree to be bound by the terms of this agreement, then do not download, install or use the Software or Service.
Furthermore, you hereby waive any rights or requirements under any law or regulation in any jurisdiction which requires an original (non-electronic) signature or delivery or retention of non-electronic records, to the extent permitted under applicable mandatory law.
The following Terms of Service (the “Terms of Service” or “Agreement”) stipulate the terms and conditions of your use of the Software and the use of online services and other services provided to you by Riskified Ltd. (“Riskified”). The Service is provided solely for your own use. Your use of the Service and Software is expressly conditioned on your compliance and consent with these Terms of Service. By accessing or using the Service or Software, you are agreeing to be bound by these Terms of Service. Riskified reserves the right to amend, discontinue, limit, disable, terminate or cancel any feature of the Service or Software.
Definitions and Interpretation
In this Agreement the following terms shall have the following meanings:
“Data Protection Laws” with respect to a party, means all laws and other binding legal sources governing data privacy, data security or the processing or handling of personal data, but only to the extent such are applicable to that party and its activities, which laws and legal sources may include (but are not limited to) Directive 95/46/EC of the European Parliament and of the Council as implemented in the national law of EU Member States, any superseding legislation such as Regulation (EU) 2016/679 of the European Parliament and of the Council (also known as General Data Protection Regulation).
“Eligible Chargeback” a chargeback which has been provided by the credit card company with one of the reasons code stated in Schedule 1, as amended from time to time, with any such amendment being applicable only to Submitted Transactions for which Service was provided after the amendment. It is clarified that the reasons code are the codes used by the credit card companies. Different merchant banks and other payment processing counterparts may have corresponding reason codes which differ from the reasons code in Schedule 1. For the avoidance of doubt, an Eligible Chargeback shall include such reason codes.
“Personal Data” shall have the same meaning as its correlative term under Data Protection Laws.
“Service” fraud screening services performed by Riskified for Card-Not-Present (CNP) orders and the chargeback guarantee provided for approved Submitted Transactions, as further detailed in Schedule 2.
“Software” Riskified’s proprietary technology for risk management of credit card transactions, including, without limitation, any patches, revisions, updates, upgrades or replacement thereto to the extent Riskified has made them available to the Client.
“Submitted Transaction” a card-not-present transaction submitted by Client to Riskified for review and decision in accordance with the Service.
“Transaction Information” is any and all information or data (including Personal Data) related to a Submitted Transaction or to an individual associated with a Submitted Transaction, which Client provides or makes available to Riskified.
License; Supply of Service
- Subject to Client’s full compliance with all of the terms and conditions of this Agreement and payment of the Fees, Riskified hereby grants Client a limited, personal, non-commercial, non-exclusive, revocable, non-sublicensable, non-transferable, non-assignable, license to download, install and use the Software.Riskified is entitled, without any liability, to refuse, restrict, limit, suspend, interfere or interrupt the Service or any part thereof, without any notice to Client, for the repair, improvement or upgrade of the Service or for any of the reasons for termination as mentioned below.Riskified may, at its sole discretion and without any notice to Client, change the technical features of the Service or of the Software in order to keep pace with the latest demands and technological developments.
- Riskified retains sole and exclusive ownership of all rights, title and interests in the Service and Software and all intellectual property rights relating thereto. Client may not make any use of the Software in whole or in part that is not expressly permitted by this Agreement. Without limiting the generality of the foregoing, Client shall not: (i) copy, modify, translate, reverse engineer, decompile or disassemble the Software or create derivative works based thereon; (ii) install the Software onto a server so that it is accessible via a public network; (iii) share or permit other persons to use the Software, rent, lease or transfer the Software or the rights to use it; or (iv) delete or modify any attributions, legal notices or other proprietary designations in the Software or any part thereof. Any such forbidden use shall immediately and automatically terminate Client’s license to use the Software, without derogating from any other remedies available to
- The license granted herein does not grant Client any right to any version enhancement, update or upgrade to the Software. Riskified may revise or modify the Software or its functionality or any part thereof.
- Any and all trademarks, service marks, product names and trade names of Riskified appearing on or through the Service, including but not limited to RISKIFIED and , whether registered or not are exclusively owned by Riskified (“Riskified Trademarks”). All other trademarks, service marks, product names, and logos appearing on or through the Service are the property of their respective owners (“Third Party Trademarks”). Any use of the Third Party Trademarks by Riskified is considered nominative fair use in order to indicate the identity, services and/or products of the respective third party, and is in no way meant to indicate any sponsorship, endorsement or affiliation with the owners of the respective Third Party Trademarks, unless otherwise agreed to between Riskified and the respective Third Party. Client may not use or display any trademark, service mark, product name, trade name or logo appearing on or through the Service without the owner’s prior written consent. Riskified will be allowed to use Client’s trademarks, service marks and/or trade names in a fair and limited manner to convey Client’s use of the service.
- In order for Riskified to provide the Service to Client for a Submitted Transaction, Client is required to provide Riskified with the details of the Submitted Transaction through a dedicated feature in the Software, in accordance with Schedule 2, below. Riskified may request from the Client further Submitted Information. Riskified will use reasonable endeavors to provide Client with a prompt reply stating whether it agrees to provide the Service with respect to a Submitted Transaction.
- For any Submitted Transaction for which Riskified has agreed to provide the Services, Riskified shall provide the Client with a notice stating whether it advises to accept or reject the Submitted Transaction (the “Advisory Notice“). The Service will be deemed to have been provided in respect of a Submitted Transaction only if Riskified provided Client with an Advisory Notice in accordance with this Section within five days from receiving’s Client initial request for the provisions of the Service for such Submitted Transaction. Client shall not be liable to pay any fees with respect to Submitted Transactions which were not processed within this time frame.
- If Client is presented with an Eligible Chargeback with respect to a Submitted Transaction for which Riskified has provided an Advisory Notice in which Riskified has advised Client to accept the Submitted Transaction, Client shall provide Riskified details regarding such Eligible Chargeback by using the dedicated feature for this purpose in the Software (“Submitted Transaction Chargeback Form“), in accordance with the terms and as further detailed in Schedule 2 below. If, following receipt of the Submitted Transaction Chargeback Form, it is determined that the Client has been presented with an Eligible Chargeback despite the fact that Riskified has advised that the Client may accept the Submitted Transaction, Client’s sole remedy from Riskified shall be the payment of liquidated damages in an amount equal to the chargeback amount, as further detailed and in accordance with the terms set forth in Schedule 2 below.
- Riskified warrants that Service will be provided with reasonable skill and care by suitably qualified and experienced personnel. However, Riskified cannot guarantee the provision of the Service if the Service is subject to improper use or interference from external causes that are beyond Riskifieds’s reasonable control (including, but not limited to services or modifications not performed by Riskified or a third party appointed by Riskified). EXCEPT FOR THE PAYMENT OF LIQUIDATED DAMAGES IN ACCORDANCE WITH SECTION 2.6 WITH RESPECT TO THE SERVICE, RISKIFIED TAKES NO LIABILITY FOR THE RESULTS OF THE USE OF THE SOFTWARE AND THE SERVICE.
- Riskified shall have the right upon reasonable notice to change the terms or specifications of any of the Service due to (i) changes in the Service which are made at Client’s request or (ii) changes imposed upon Riskified beyond Riskifieds’ reasonable control (for example, by third parties not affiliated with Riskified).
- Notwithstanding the foregoing, Riskified may immediately suspend the Service, with or without prior notice to Client, in order to avoid or mitigate irreparable harm to Riskified. Any suspension hereunder shall be without limitation of any other right or remedy available to Riskified.
Client Account, Warranties and Obligations
- In order to use the Service the Client must create a user account. As part of the registration process the Client may be required to provide Riskified with certain information, including personal information and details on the website operated by Client. It is the Client’s duty to update Riskified if this information changes. Riskified may ask Client at any time for proof of identity documents (such as copies of driving license, passport, utility bills, bank statements, and in the case of companies, certificate of incorporation, certificate of incumbency, list of directors and shareholders etc.) and Client shall promptly provide any documents requested by Riskified. Client will also provide Riskified with any information that it requests to verify compliance with this Agreement.
- Client shall not use the Service if its site is unsuitable. Unsuitable sites include, inter alia, sites that: (i) promote or contain sexually explicit materials, violence or violent materials, libelous or defamatory materials, (ii) promote discrimination or employ discriminatory practices, (iii) promote or undertake illegal gambling, sale of firearms, hacking or cracking or any illegal activity, (iv) may bring Riskified to disrepute, or (v) infringes intellectual property rights. As a condition of use, Client agrees to use the Service solely for lawful purposes and not to use the Service for any purpose that is prohibited by these Terms of Service. Client is responsible for all of its activity in connection with the Service.
- Client shall provide complete, accurate and timely information as reasonable required by Riskified to provide the Service. Client shall ensure the legality of any transfer of data by Client to Riskified for the purpose of processing the Personal Data, including but not limited to Transaction Information, in accordance with this Agreement.
- Client shall provide complete, accurate and timely information as reasonable required by Riskified to provide the Service. Client shall grant Riskified the irrevocable right and ensure the legality of any transfer of data by Client to Riskified for the purpose of processing the Personal Data, including but not limited to Transaction Information, in accordance with this Agreement, including incorporation of such data and information into Riskified’s Services.
- Client shall comply with all applicable laws, including, without limitation, all relevant data protection and privacy legislation in force in the applicable territories.
Data protection and privacy
- With respect to Client collecting Personal Data, processing it or sharing it with Riskified, Client shall comply with all applicable laws, including, without limitation, all Data Protection Legislation in the applicable territories. In particular and as applicable:
- Prior to collecting Personal Data, processing it or sharing it with Riskified, Client shall provide data subjects with an appropriate notice and properly obtain their consent to such collection, processing and sharing, as necessary under applicable Data Protection Legislation.
- Where the Client determines whether to accept or reject a Submitted Transaction based on Riskified’s Advisory Notice, the Client shall comply with all applicable requirements, restrictions and obligations under Data Protection Legislation which regulate decisions affecting data subject which are made based solely on automated processing of Personal Data.
- Client shall comply with all applicable requirements, restrictions and obligations under Data Protection Legislation which regulate processing Personal Data of minors.
- The Client undertakes that Transaction Information shall not include Personal Data that reveals racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership, data concerning health or data concerning a persons’ sex life or sexual orientation. If the Client envisions or anticipates that Transaction Information may include any of the above categories of information, the Client shall promptly notify Riskified thereof and the parties shall discuss if and how such Transaction Information can be provided to Riskified, but in any event the Client shall not provide such Transaction Information unless mutually agreed to in writing and in advance.
- The parties acknowledge and agree that the Service is not and does not constitute a “consumer report” and that Riskified is not and does not constitute a “consumer reporting agencies,” as those term are used in the US federal Fair Credit Reporting Act (15 U.S.C. § 1681, et seq.) (“FCRA”). The Client covenants not to use the Service, directly or indirectly, to as a factor in establishing a person’s eligibility for credit, insurance, employment or another FCRA-covered purpose.
- Client will submit transactions to Riskified and pay a fee for all approved Submitted Transactions and will not be charged a fee for declined Submitted Transactions, in accordance with the pricing schedule in the dedicated API.
- Client may cancel a Submitted Transaction or part thereof, which was cancelled and/or returned by Client’s Customer, and for which Riskified has already provided a Transaction Advisory Note and created a charge, within two (2) weeks from the issuance date of the Transaction Advisory Note. In such a case Riskified will apply to Client a cancellation fee in accordance with the specific pricing schedule in the dedicated API. Riskified may request confirmation of such cancellation and/or return of a Submitted Transaction or part thereof by Client’s Customer.
- Client will be billed by invoice on a monthly basis and Client agrees to remit payment by monthly bank transfer or by credit card for charges under $2,000, within thirty (30) days upon receipt of said invoice. Client will be responsible for transfer costs which exceed the associated costs of the above transfer methods. Riskified will provide a receipt for credit card charges indicating the amount of the transaction and will send an invoice for wire payments at the beginning of each month following the month for which the invoice is issued after the Effective Date.
- If paying by credit card, Client authorizes Riskified to bill Client’s credit card the first (1st) of each month and agrees to provide Riskified with valid, up-to-date and complete credit card details, including contact and billing details.
- Failure to pay the Fees on or by the due dates will be deemed a material breach of this Agreement and will entitle Riskified to discontinue the service and/or terminate this Agreement. Unpaid amounts are subject to a finance charge of 1.5% per month on any outstanding balance, or the maximum permitted by law, whichever is lower, plus all expenses of collection.
- All fees are exclusive of applicable taxes or other governmental charges.
- Riskified shall have the right to increase the Fees for any reason at any time upon 30 days written notice.
Indemnity and Limitation of Liability
- Client, at its own expense, shall defend, indemnify and hold harmless Riskified against claims, actions, proceedings, losses, damages, expenses and costs (including without limitation court costs and reasonable legal fees) arising out of or in connection with Client’s use of the Service including claims that relate to (a) Transfer of Personal Data, Transaction Information or any other content or materials provided by Client in breach of this Agreement, or (b) the use by Client of the Service in breach of this Agreement or in violation of applicable law or third party rights.
- Riskified shall hold Client harmless from liability to third parties resulting from infringement by the Service of any patent or any copyright or misappropriation of any trade secret, provided Riskified is promptly notified of any and all threats, claims and proceedings related thereto and given reasonable assistance and the opportunity to assume sole control over defense and settlement; Riskified will not be responsible for any settlement it does not approve in writing. The foregoing obligations do not apply with respect to portions or components of the Service (i) not supplied by Riskified, (ii) made in whole or in part in accordance with Client specifications, (iii) that are modified after delivery by Riskified, (iv) combined with other products, processes or materials where the alleged infringement relates to such combination, (v) where Client continues allegedly infringing activity after being notified thereof or after being informed of modifications that
would have avoided the alleged infringement, or (vi) where Client’s use of the Service is not strictly in accordance with this Agreement. If, due to a claim of infringement, the Service is held by a court of competent jurisdiction to be or are believed by Riskified to be infringing, Riskified may, at its option and expense (a) replace or modify the Service to be non-infringing provided that such modification or replacement contains substantially similar features and functionality, (b) obtain for Client a license to continue using the Service, or (c) if neither of the foregoing is commercially practicable, terminate this Agreement and Client’s rights hereunder and provide Client a refund of any prepaid, unused fees for the Service.
- Client acknowledges the electronic nature of the Service to be supplied hereunder and the inherent risk that communications by electronic means may not reach their intended destination or may do so much later than intended for reasons outside Riskified’s control.
- CLIENT ACKNOWLEDGES AND AGREES THAT IN NO EVENT SHALL RISKIFIED (INCLUDING, WITHOUT LIMITATION, ITS AFFILIATES, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, CONTRACTORS AND AGENTS) BE LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL OR EXEMPLARY DAMAGES OR DAMAGES FOR LOST PROFITS, INTERRUPTION, OF DATA, LOSS OF GOODWILL, WORK STOPPAGE, DEVICE FAILURE OR MALFUNCTION OR DAMAGES ARISING OUT OF THE USE OF OR INABILITY TO USE THE SERVICE, EVEN IF RISKIFIED HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
- EXCEPT FOR PAYMENT OF LIQUIDATED DAMAGES IN ACCORDANCE WITH SECTION 2.5, IN NO EVENT SHALL RISKIFIED’S AGGREGATE LIABILITY TO CLIENT OR ANY THIRD PARTY UNDER ANY LEGAL THEORY (INCLUDING, BUT NOT LIMITED TO, TORT, CONTRACT, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE) FOR ANY LOSS OR DAMAGES OR FOR ANY CLAIM BY ANY OTHER PARTY, EXCEED THE AMOUNT PAID BY CLIENT TO RISKIFIED FOR USE OF THE SOFTWARE OR SERVICE DURING A PERIOD OF SIX (6) MONTHS PRECEDING THE EVENT THAT GAVE RISE TO THE CLAIM, EVEN IF RISKIFIED HAD BEEN INFORMED OF THE POSSIBILITY OF SUCH DAMAGES.
Terms and Termination
- Unless otherwise agreed to by the parties in any separate form or means, the following terms shall govern the term of this Agreement and the parties right to terminate it.
- This Agreement shall be effective commencing on the date in which Client has first installed the Software and shall continue until terminated by either party in accordance with this Agreement.
- Either party may terminate this agreement immediately without giving prior written notice. Riskified may terminate Client’s access to all or any part of the Service at any time, with or without cause, or with or without notice, effective immediately. If Client wishes to terminate this Agreement it shall do so by logging in to its account and selecting the “Delete Account” link on the settings page, and by uninstalling the Software from all of the devices operated by the Client.
- Upon any termination of this Agreement, all provisions regarding indemnification, warranty, liability and limits thereon, data protection and privacy, confidentiality and protection of proprietary rights and trade secrets, and any provisions which expressly or by their nature are required to survive such termination in order to achieve their purpose, shall so survive until it shall no longer be necessary for them to survive in order to achieve their purpose. Termination of this Agreement shall not relieve Client or Riskified of their respective obligations to pay amounts accrued or owing, nor affect any legal rights or obligations which may have arisen under this Agreement prior to or at the date of termination.
Representations and Warranties
- Client hereby represents and warrants to Riskified that:
- it shall not knowingly do anything or allow anything to be done which is likely to harm the reputation of Riskified;
- it shall not use the Service in connection with any illegal or fraudulent business activities;
- all information provided by Client with respect to its business activities and in any forms and notices provided to Riskified, including in Submitted Transaction Forms and Submitted Transaction Chargeback Forms, is true, accurate and not misleading;
- it has the power to execute, deliver and perform this Agreement, and this Agreement is duly authorized, and will not violate any provisions of law, or conflict with any other agreement to which such party is subject; and
- to the best of its knowledge, there is no action, suit or proceeding now pending or threatened by or against or affecting Client which would substantially impair its right to carry on its business as now conducted or adversely affect its financial condition or operations.
- In case of the Client being an incorporated entity, Client warrants that it is duly formed and validly existing under the laws of its jurisdiction and that this Agreement constitutes the valid and binding obligation of the Client, enforceable against it in accordance with its terms.In case the Client is an individual, he or she is of legal age as determined by any applicable law in his or her jurisdiction, and in any case not less than 18 years old.
- Riskified hereby represents and warrants to Client that:
- it shall not knowingly do anything or allow anything to be done which is likely to harm the reputation of Client;
- it shall comply with any legislation, rules and regulations applicable to the provision of the Service;
- it has the power to execute, deliver and perform this Agreement, and this Agreement is duly authorized, and will not violate any provisions of law, or conflict with any other agreement to which such party is subject; and
- to the best of its knowledge, there is no action, suit or proceeding now pending or threatened by or against or affecting Riskified which would substantially impair its right to carry on its business as now conducted or impair its right to provide the Service or adversely affect its financial condition or operations.
- Client hereby represents and warrants to Riskified that:
Disclaimer of Warranties
EXCEPT FOR THE WARRANTIES PROVIDED IN THIS AGREEMENT, RISKIFIED PROVIDES THE USAGE OF THE SERVICE AND SOFTWARE TO CLIENT ON AN “AS IS” BASIS, WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING THE WARRANTY OF MERCHANTABILITY, NON-INFRINGEMENT, AND FITNESS FOR PARTICULAR PURPOSE OR ACCURACY. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, RISKIFIED DOES NOT WARRANT THAT THE SERVICE OR SOFTWARE OR ANY SERVICES RELATED THERETO WILL BE DELIVERED OR PERFORMED ERROR-FREE OR WITHOUT INTERRUPTION. RISKIFIED DOES NOT PROVIDE THE EQUIPMENT TO ACCESS THE SERVICE AND WILL NOT BE RESPONSIBLE AND/OR LIABLE FOR CLIENT’S INTEGRATION OF THE SOFTWARE AND SERVICE.
Client acknowledges that the Software and Service may be subject to international rules that govern the export of data and information. Client agrees to comply with all applicable international and national laws and destination restrictions issued by national governments that apply to the Software, and Client shall not: (i) export or allow the export or re-export of the Software and Service in violation of any such restrictions, laws and regulations; (ii) remain in compliance with all requirements associated with these laws; (iii) cooperate fully with any audit related to these laws; and (iv) not utilize the Service in any country that is embargoed by the United States government. Client shall be solely responsible for the importation of the Service, including obtaining any approval or permit necessary for importation or use. Client represents that neither, nor any of the directors, officers, agents, employees, or other persons associated with or acting on Client’s
behalf: (i) have received or will receive any unlawful contribution, gift, entertainment, or other payment from Riskified; (ii) is a governmental entity; or (iii) is in violation of, or will violate any applicable anticorruption or antibribery law. Riskified shall have an irrevocable right to immediately terminate the Agreement or any other relationship with Client if this subsection is breached.
Each party undertakes to the other to treat as confidential and not to use or exploit any information supplied or made available by the other party under this Agreement which is designated as confidential by it or which is by its nature clearly confidential provided that this section shall not extend to any information which was rightfully in the possession of the other party prior to the commencement of the Services or which is already public knowledge or becomes so at a future date (otherwise than as a result of a breach of this section). Confidential information shall include but not be limited to work products and derivatives of the Service. Neither party shall divulge any confidential information to any person except to their own employees, affiliates, sub-contractors, partners or agents and then only to those employees, affiliates, sub-contractors, partners or agents who need to know the same and who are bound to such party by similar confidentiality obligations,
- Neither party shall bind or attempt to bind the other party, or represent that the other party is bound, to any agreement, commitment or understanding without such party’s express written consent given in advance, and any attempt to do so shall be null and void.
- The parties’ relationship to each other in all matters relating to the performance of this Agreement is that of independent entities. Nothing contained herein will place the parties in the relationship of partners, participants in a joint venture, contractor-subcontractor, or employer-employee and, except as set forth herein, neither party will have any right to obligate or bind the other in any manner whatsoever nor represent to a third party that it has any right to enter in to any binding obligation on the other’s behalf.
Transfer of Rights
Client may not assign any rights under this Agreement. Any such purported assignment shall be null and void. Riskified may assign its rights and obligations under this Agreement.
Third Party Services
Riskified reserves the right to use third party service providers that will assist Riskified to provide the Services to Client; provided, however, that any act or omission of such service providers shall be deemed to be acts or omissions of Riskified for purposes of Riskified’s obligations to Client.
- If any part of this Agreement is found void and unenforceable, it will not affect the validity of the balance of the Agreement, which shall remain valid and enforceable according to its terms.
- The failure of Riskified to act with respect to a breach of this Agreement shall not constitute a waiver and shall not limit Riskified’s rights with respect to such breach or any subsequent breaches.
- This Agreement is governed by and construed in accordance with the federal law of the United States of America and the state law of the State of New York notwithstanding the conflict of law provisions and other mandatory legal provisions. The parties shall irrevocably submit to the exclusive jurisdiction of the competent courts in New York State, for the purposes of hearing and determining any dispute relating or arising out of this Agreement.
- Riskified shall not be liable for any loss, damage, or failure due to causes beyond its control, including strikes, riots, earthquakes, epidemics, terrorist actions, wars, fires, floods, weather, power failure, telecommunications outage, acts of God, or other failures interruptions or errors not directly caused by Riskified.
- Code #37 – Fraud Transaction No Cardholder Authorization
- Code #40 – Fraudulent Processing of Transactions
- Code #57 – Fraudulent Multiple Transactions or Credit Card Activated Telephone Transaction
- Code #62 – Counterfeit Transaction
- Code #63 – Cardholder Does Not Recognize Potential Fraud
- Code #71- Declined Authorization
- Code #72- No Authorization
- Code #75 – Cardholder Does Not Recognize Transaction
- Code #81 – Fraudulent Transaction: Card Present Environment
- Code #83 – Fraudulent Transaction: Card Not Present Environment
- Code #8 – Required Authorization not obtained.
- Code #37- No Cardholder Authorization
- Code #40- Fraudulent Processing of Transactions
- Code #63- Cardholder Does Not Recognize- Potential Fraud
- AT – Authorization non-compliance
- UA02 – Fraud Card Not Present Transactions
- Does Not Recognize
- A02 – No Authorization/Invalid Approval Code
- F29 – Fraudulent Transaction – Card Not Present
- FR2 – Fraud Full Recourse Agreement (Card member denies authorizing the charge)
Schedule 2: RISKIFIED SERVICE
- The customer provides order details through the Service.
- For any order that Riskified accepts for review, Riskified will provide Client with an recommendation whether to accept or decline the order. Client can then choose to either approve or reject the order.
- The Transaction Advisory Note can be provided to the client by email, a push notification to the client system, a designated section of the web application or any other method of communication agreed upon both parties.
- The Service will be deemed to have been provided in respect of the submitted order only if Riskified provided such Transaction Advisory Note.
- Riskified may choose not to review a submitted order listed below and in such cases Riskified will contact Client:
- If the order had already been fulfilled.
- If more than one week has passed since the order was created.
- If the data provided does not meet the standard set as specified in the dedicated API
- Any order Riskified recommends to accept and is approved by Client will be covered by the chargeback guarantee (see Section.2a.)
- Chargeback guarantee and submission for reimbursementRiskified provides chargeback guarantee for orders that were reviewed and recommended for approval by Riskified. In case a chargeback is incurred, chargeback documents will be provided to Riskified by Client using a dedicated feature in the Riskified web application or using Riskified dedicated API.
- Chargeback review process and document requirementsRiskified will require the following documents for review:
- A copy of the original chargeback notification. Containing the following details:
- A chargeback reason or a chargeback reason code.
- The original transaction date and transaction amount.
- For orders in which the customer used a credit card to place the order, the notice will include the credit card first six (6) and last four (4) digits.
- In case the order was placed using an alternative payment method (e.g. PayPal) the notice will include the customer’s name and customer email.
- For tangible goods orders, the Client will also supply Riskified with a relevant proof of delivery in one of two formats:
- A copy of the form the client received from the shipping company in relation to the order containing the delivery address, reroute information, date of delivery and the parcel delivery status.
- A valid tracking number and shipping company related to the order.
- A copy of the original chargeback notification. Containing the following details:
- Limitations of liability for incurred chargebacks – Riskified will not reimburse the client if one or more of the following cases apply:
- The order was not reviewed and approved by Riskified
- The chargeback reason is not fraud related (see Schedule 1).
- The details within the notice do not match the order details stated in the original order of the customer that was approved by Riskified.
- When proof of shipping is supplied, it must state that the item purchased by the customer in the Submitted Transaction was sent to the shipping address that was stated in the original order of the customer in order to qualify for reimbursement. Riskified does not provide guarantee when delivery was made to a different address, when shipping was re-routed to a different address, including to any post office pick up facility. Riskified advises Client to disallow order re-routing with their shipping providers.
- The chargeback and all required accompanying materials as detailed hereinabove, were submitted to Riskified for reimbursement more than fifteen (15) days after the client received the notice or if the date of the chargeback notice is before the order shipping date.
- The chargeback guarantee shall remain in force for a period of six (6) months from the date of its issuance and shall thereafter expire automatically, and Riskified shall have no liability for any chargeback which occurs following such six (6) months period.
- Client does not dispute vis-à-vis Client’s gateway any Eligible Chargeback for which Riskified has provided an “Approved” decision and sufficient evidence to dispute the said Eligible Chargeback, or alternatively, make Riskified the point of contact for such Eligible Chargeback dispute.
- Remedies In case the chargeback submitted meets the above criteria, the Client’s sole remedy from Riskified shall be the payment of liquidated damages in an amount equal to the chargeback amount. Such amount shall be the lower of: (i) the original order; (ii) the amount stated in the original Chargeback notice submitted to Riskified (to reflect any changes in the order amount after it has been approved by Riskified), or; (iii) the chargeback amount according to sections (i) or (ii) above deducted by any amount recovered by Client in connection with the Submitted Transaction (to reflect recovery by the Client of the Submitted Transaction value, or a part thereof). Riskified will provide reimbursements to Client in accordance with the above on a rolling monthly basis as a credit to Client’s account, or, in the event the amount exceeds the current amount owed to Riskified, by wire transfer at month end. If Client has any unpaid amounts due to Riskified after the term of this
Agreement, Riskified will offset any reimbursement amount in accordance with the above from such unpaid amounts.
- Special Cases In the case that the client succeeds in reclaiming an item from the customer, Riskified will not be liable for the chargeback value of such item and if a reimbursement was already issued by Riskified to the client, the client will refund Riskified for the cost of merchandise. Riskified will cover the shipping costs related to the order. For any Eligible Chargebacks that are disputed and won, Riskified will be refunded for total refunded to Client amount.
Latest Terms of Service Amendments
On June 19 we updated our ToS, as summarized below. Please read the full version of the ToS to familiarize yourself with the terms and conditions of Riskified’s Services.
We have added in a fee in case you decide to cancel a transaction which was already reviewed and approved.
We have clarified our service flow and provide more details of the order review process and the chargeback process.
We have revised the parties indemnification obligations, and most notably we have taken upon ourselves the obligation to indemnify you in case our service would be in breach of third-party IP rights.
We’ve added a more detailed list of the fraud reason codes we accept.