{"id":592,"date":"2018-11-25T07:01:23","date_gmt":"2018-11-25T07:01:23","guid":{"rendered":"https:\/\/www.subastralinc.com\/pub\/blogs\/?p=592"},"modified":"2025-02-08T05:59:05","modified_gmt":"2025-02-08T05:59:05","slug":"shopify-rolled-out-fraud-protect-for-shopify-payments-adding-protection-from-chargebacks-for-retaile","status":"publish","type":"post","link":"https:\/\/www.subastralinc.com\/blog\/shopify-rolled-out-fraud-protect-for-shopify-payments-adding-protection-from-chargebacks-for-retaile\/","title":{"rendered":"Shopify Rolled Out Fraud Protect for Shopify Payments, Adding Protection from Chargebacks for Retailers"},"content":{"rendered":"

Shopify is one of the leading platforms for retailers who want to expand their sales by selling products online as well as in their brick-and-mortar stores. This e-commerce platform recently made headlines with the rollout of Fraud Protect for Shopify Payments, a product announced earlier in the year. At the moment, the product is just available to select merchants, but Shopify will expand availability in the future.<\/p>\n

How Fraud Protect for Shopify Payments Works<\/strong><\/p>\n

According to the recent press release from Shopify, Fraud Protect for Shopify Payments can guarantee all sales as a way to provide reassurance for smaller merchants. To cover the cost of this protection, Shopify will charge a small fee based on a percentage of sale. In return, Shopify promises that it will compensate merchants for fraudulent chargebacks.<\/p>\n

Shopify also indicates that this fraud protection product will have a streamlined fulfillment process. They say that this should help businesses that are still growing, so they can lower their operating costs while enhancing customer service.<\/p>\n

Why Fraudulent Chargebacks Matter<\/strong><\/p>\n

Any retailer knows that fraudulent chargebacks are becoming more common, with one report indicating that 2018 saw a 30 percent increase in fraudulent transactions. Other reports show that this is particularly problematic on mobile platforms, and e-commerce is hit the hardest by fraud. Forter’s 2018 Fraud Attack Index also found a dramatic 119 percent increase in return abuse for the fourth quarter of last year.<\/p>\n

Some indicate that retailers suffered from chargeback costs of $31 billion last year alone, with $19.4 billion of this linked to cyber-shoplifting. To make matters worse, each dollar of digital fraud in 2018 cost merchants $2.94. Since Shopify has about 600,000 active stores, the deployment of the Fraud Protect for Shopify Payments has the potential to assist a large number of retailers.<\/p>\n

Source:<\/p>\n

https:\/\/www.retaildive.com\/news\/shopify-aims-to-protect-merchants-from-fraudulent-chargebacks\/539317\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shopify is one of the leading platforms for retailers who want to expand their sales by selling products online as well as in their brick-and-mortar stores. This e-commerce platform recently made headlines with the rollout of Fraud Protect for Shopify Payments, a product announced earlier in the year. 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