Australia’s largest chain of retail pharmacies, Chemist Warehouse Group has chosen ecommerce risk intelligence leader, Riskified to protect its online store against fraudulent stolen card attacks and to grow ecommerce revenues by approving more legitimate orders.
After experiencing cart abandonment and false decline issues due to inflexible fraud rules and friction from 3D Secure, Chemist Warehouse Group recognised that Riskified’s real-time decision engine could help them approve more online orders and first-time customers.
Within days of implementing Riskified’s Chargeback Guarantee solution, Chemist Warehouse Group saw their approval rates increase from 94.2% to over 99%, representing a decrease in false fraud declines of 80%.
Chemist Warehouse managing director, Jack Gance said, “Prior to working with Riskified we didn’t believe we had an online fraud issue. However, we realised that although we were containing online fraud losses, we were declining legitimate shoppers and therefore limiting the full revenue potential of our online business.
“Partnering with Riskified helps Chemist Warehouse provide a best-in-class shopping experience that makes it very easy for consumers to shop with us, with the convenience eCommerce affords.”
Riskified Australia and New Zealand country manager, Nicholas Kirtley commented, “Our platform’s machine learning models, which are trained and managed by an extensive team of fraud experts, help to ensure that merchants like Chemist Warehouse feel confident about growing their online business while accurately keeping fraud out.”
In addition to reviewing all credit card purchases on Chemist Warehouse’s websites, Riskified also enables the pharmacy to safely activate digital gift card offerings and help grow the channel.