Chargebacks cost businesses in the e-commerce space an estimated $200 billion a year. While some chargebacks are legitimate, about 85% are simply unjustified. Recovery rates are low, the process time-consuming and chargebacks can force payment providers to charge businesses more or suspend merchant services accounts.
Today, merchants and retailers have an important new weapon in the battle against unlawful e-commerce chargebacks. Chargeflow has officially launched its AI-powered platform to help Shopify merchants fight fraudulent chargebacks. It is free to install, and businesses only pay a success fee if Chargeflow helped them win the chargeback and recover funds.
The fraud-prevention company has accelerated the product development to integrate with payment processors and online platforms to be able to deliver seamless onboarding to merchants. Chargeflow is fully integrated with Shopify and its payment processor Shopify Payments, as well as PayPal, Payflow, Stripe, and Braintree, while other integrations are in progress.
"Chargeflow technology enables its merchants to automate their chargebacks and significantly improve the recovery success rate which results in substantial net profit increase," said Ariel Chen, co-founder and CEO of Chargeflow. "Our solution has helped our customers recover multi-million dollars' worth of chargebacks across Shopify and Shopify Plus platforms."
Chargeflow brings years of experience in handling friendly fraud chargebacks and credit card fraud, and currently employs highly experienced fraud and chargeback experts, building its solution to be the most effective in the industry.
This experience with chargebacks led to the development of AI algorithms and machine learning while creating massive data sets to create the world's first science-based chargeback mitigation solution.
Using artificial intelligence, Chargeflow analyzes chargebacks and automatically responds with everything needed to fight back. ChargeScore's advanced algorithms, developed in-house, will calculate the projected success of the chargeback based on similar transactions and gather customized dispute evidence from numerous sources and millions of data points for each chargeback.
Chargeflow allows online businesses to automatically uncover fraudulent transactions and recover more revenue, which results in an increased net profit. Shopify merchants can track dispute status in the real-time dashboard within the platform and get scheduled reporting and notifications to their email.
Chargeflow's new product is a game-changer in the e-commerce industry in the never-ending battle against chargebacks. Merchants can install the Chargeflow app for Shopify in the Shopify App Store or contact Chargeflow directly to learn more.
For more information on recovering business chargebacks, please visit https://www.chargeflow.io.
Chargeflow is the world's first fully automated dispute and chargeback solution, designed for e-commerce merchants by e-commerce entrepreneurs. Chargeflow leverages technology and AI, along with human expertise, to help recover revenue and alleviate chargeback pains for online merchants. Chargeflow has an industry-leading 85% average win rate and guarantees a 5x ROI.
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Original Source: Chargeflow Launches AI-Powered Platform on Shopify to Help E-Commerce Businesses Fight False Chargebacks