Sift + Chargeback: Better Together

In May of this year, Sift announced its acquisition of Chargeback, the pioneer in real-time dispute management for merchants, bringing Sift closer to providing a complete, end-to-end solution against payment fraud. With this move, merchants will gain access to Sift’s comprehensive Digital Trust & Safety Suite that addresses risk before, during, and after user transactions. Together, Sift and Chargeback are offering the most comprehensive platform for stopping multiple types of abuse while increasing revenue at every step of the customer journey.

To help merchants understand how this combined solution can help protect their business and drive growth, Geoff Huang, VP of Product at Sift, and Scott Stone, Chief Strategy Officer at Chargeback, sat down with the Merchant Risk Council to provide insights.

The future of Digital Trust & Safety

At Sift, we’ve seen that standout growth-minded companies are tech-forward and organize their business operations around the Digital Trust & Safety mindset—balancing fraud protection with fast, easy, and safe experiences for trusted users. These businesses understand that the key to success lies in not only keeping fraud at bay, but reducing friction to foster consumer loyalty in their brand. It’s a constant tradeoff that many trust and safety teams face on a daily basis—let too many transactions through and risk losing revenue to fraud, or add friction to the customer experience and risk driving legitimate users away. Sift strives to help online businesses with this delicate balance between protection and growth.

Our industry-proven machine learning prevents fraud and abuse by adapting in real time based on our unrivaled network of data. Huang breaks down the expanse of the Sift global data network:

“Across 34k+ sites and apps worldwide, we’re ingesting about 70 billion events per month, and on any given month this is a quarter to a third of Google’s search volume. This is a huge amount of data we’re ingesting, which we then organize into 16k different signals—or indicators—of potentially fraudulent activity.” 

Why Chargeback?

Whether it’s “true” fraud, occurring when stolen payment information is used to make purchases, or “friendly” fraud, occurring when consumers make false claims about undelivered or unsatisfactory orders, chargebacks cost businesses revenue, time, resources. Merchants may be faced with a multitude of challenges when it comes to chargebacks—high dispute volume, low win rate, time-consuming manual work, and limited reporting transparency. 

With Chargeback, now Sift Dispute Management, merchants can deflect disputes before they’re filed, intercept suspicious orders, respond to cases, and prevent more disputes with feedback loop reporting. The solution makes data available to issuers so they can resolve cases themselves, prevent more fraudulent chargebacks, and protect customer relationships. 

The Sift + Chargeback solution

With Chargeback now a part of the Sift Digital Trust & Safety Suite, merchants get the best possible protection from fraud while maximizing revenue. The end-to-end solution provides protection all the way through the user journey, from account creation, to checkout, to post-dispute recovery. This gives merchants the capability to increase orders with less friction, decrease manual reviews with industry-leading machine learning technology, lower dispute rates, and automate dispute responses to improve win rates.

“Leading up to the acquisition, a lot of the conversations we had circled back to the concept that 1+1 is greater than 2,” said Stone. With Sift + Chargeback, you’re getting more than just the sum of each product—you’re benefiting from a holistic solution that taps into data from Chargeback to improve Sift’s machine learning. Sift and Chargeback data feed into each other, making the complete Sift Digital Trust & Safety Suite better at predicting fraud and detecting trusted behavior, helping trust and safety teams boost efficiency and unlock revenue.

For merchants looking to get started, Chargeback is currently available as a connector, which can be activated with no additional code. The pre-built connector within the Sift Connect integration hub means you can quickly leverage Chargeback to retain revenue with higher acceptance rates and lower dispute rates. And for our mutual customers, you will benefit from having a single vendor with a complete, end-to-end fraud prevention solution, a global network of fraud fighters, and leading expertise in Digital Trust & Safety and dispute management.

To get more insights on the Sift + Chargeback solution, watch the webinar.

WATCH THE WEBINAR