{"id":763068,"date":"2023-06-12T10:04:18","date_gmt":"2023-06-12T14:04:18","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/iherb-an-ecommerce-leader-in-health-and-wellness-partners-with-riskified-to-protect-online-revenues-against-fraud-and-chargeback-costs\/"},"modified":"2023-06-12T10:04:18","modified_gmt":"2023-06-12T14:04:18","slug":"iherb-an-ecommerce-leader-in-health-and-wellness-partners-with-riskified-to-protect-online-revenues-against-fraud-and-chargeback-costs","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/iherb-an-ecommerce-leader-in-health-and-wellness-partners-with-riskified-to-protect-online-revenues-against-fraud-and-chargeback-costs\/","title":{"rendered":"iHerb, an Ecommerce Leader in Health and Wellness, Partners with Riskified to Protect Online Revenues Against Fraud and Chargeback Costs"},"content":{"rendered":"

<\/p>\n

iHerb, an Ecommerce Leader in Health and Wellness, Partners with Riskified to Protect Online Revenues Against Fraud and Chargeback Costs<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–Riskified Ltd.<\/a> (NYSE:RSKD) today announced its partnership with iHerb, a global leader in ecommerce dedicated to health and wellness. iHerb is leveraging Riskified\u2019s ecommerce fraud and risk intelligence platform to boost approval rates and revenues, streamline its manual review processes, and minimize fraud losses.<\/p>\n

\nFounded in 1996, iHerb has scaled globally in recent years, taking its business to over 180 countries worldwide with over 10 million customers who purchased from iHerb in the last year. This rapid expansion has exposed the company to threats of fraud on a global scale, resulting in internal teams having to manually review nearly 10% of all orders.<\/p>\n

\nRiskified\u2019s machine learning platform now automates the review of all iHerb transactions, improving the speed and accuracy of fraud detection and decision-making. As a result of iHerb\u2019s partnership with Riskified, only 1.5% of transactions require additional manual review, a reduction of over 90%. iHerb also expects to benefit from the liability shift of Riskified\u2019s Chargeback Guarantee<\/a> product, which absorbs any chargeback costs while delivering a 99%+ approval rate. This means iHerb can reliably predict its revenues while protecting profits. Riskified\u2019s platform and Chargeback Guarantee product are expected to continue improving iHerb\u2019s ability to predict its revenues, while limiting the impact of fraudulent transactions on iHerb\u2019s profits.<\/p>\n

\n\u201cCustomer loyalty has always been important to us, but as our business expanded, it felt like we might have to compromise. Losing growth momentum and good orders to manual fraud review, along with the threat false declines pose to the customer experience, were a real concern,\u201d commented Jordan Harris, Senior Director of Fraud Prevention at iHerb. \u201cWith Riskified we don\u2019t have to compromise, thanks to a smart platform and an expert team behind it that makes us so much more effective and efficient. It\u2019s a testament to our great partnership with Riskified that we\u2019re exploring additional innovative approaches to loss prevention.\u201d<\/p>\n

\nThe industry-leading accuracy of the Riskified platform is powered by extensive ecommerce, fraud and identity intelligence derived from analyzing more than 2.5 billion transactions worldwide. Riskified\u2019s end-to-end risk intelligence platform also helps merchants like iHerb detect and stop fraud beyond card-not-present transactions, including forms of policy abuse<\/a> like return fraud that eat into margins. It does this using identity-cluster technology that can help customer care teams assess the intentions and behaviors of individuals behind a claim, enabling a frictionless experience for good customers while blocking bad actors.<\/p>\n

\n\u201ciHerb\u2019s story is common among fast-growth ecommerce businesses. The pace of expansion can make it extremely challenging to maintain high approval rates while accurately detecting and preventing fraud in real time, resulting in compromised revenue growth, customer experience and profit margins,\u201dsaid Ravi Kumaraswami, President of Worldwide Field Operations, Riskified. \u201cTogether with the iHerb team we\u2019re able to get ahead of the problem and free-up the team to continue focusing on growing the business.\u201d<\/p>\n

About iHerb
\n
<\/b>Trusted by over 10 million customers annually in over 180 countries, iHerb empowers people to enhance their health, happiness and well-being. As a multi-billion dollar ecommerce platform, we are on a mission to offer our customers earth\u2019s best selection of health and wellness products at the best possible value, delivered with the most convenient experience. We believe health and wellness should not be a privilege but a universal right made possible through compassion and our collective action \u2013 and everyone, no matter who they are or where they are, should have easy access to products that will help them live their healthiest, best life. https:\/\/www.iherb.com\/<\/a><\/p>\n

About Riskified\u00a0
\n
<\/b>Riskified (NYSE:RSKD) empowers businesses to grow ecommerce revenues and profit by mitigating risk. The world\u2019s largest merchants and prestige brands partner with Riskified for guaranteed protection against chargebacks, to fight fraud and policy abuse at scale and to improve customer retention. Supported by a deeply experienced team of ecommerce risk analysts, data scientists and researchers, Riskified\u2019s award-winning machine learning platform analyzes the individual behind each interaction to provide real-time decisions and robust identity-based insights. Learn more at Riskified.com<\/a>.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230612968100\/en\/<\/a><\/span><\/p>\n

\nAileen McNelis
\n
PR for Riskified
\n
amcnelis@nexttechcomms.com<\/a><\/p>\n

\nCristina Dinozo
\n
Sr. Director of Communications
\n
press@riskified.com<\/a><\/p>\n

\nChett Mandel
\n
Head of Investor Relations
\n
ir@riskified.com<\/a><\/p>\n

\nNicole Rohrer
\n
iHerb Director, Brand and Content
\n
nicole.rohrer@iherb.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America New York<\/p>\n

INDUSTRY KEYWORDS:<\/b> Software Data Analytics Payments Professional Services Technology Online Retail Retail Security<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
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iHerb, an Ecommerce Leader in Health and Wellness, Partners with Riskified to Protect Online Revenues Against Fraud and Chargeback Costs NEW YORK–(BUSINESS WIRE)–Riskified Ltd. (NYSE:RSKD) today announced its partnership with iHerb, a global leader in ecommerce dedicated to health and wellness. iHerb is leveraging Riskified\u2019s ecommerce fraud and risk intelligence platform to boost approval rates and revenues, streamline its manual review processes, and minimize fraud losses. Founded in 1996, iHerb has scaled globally in recent years, taking its business to over 180 countries worldwide with over 10 million customers who purchased from iHerb in the last year. This rapid expansion has exposed the company to threats of fraud on a global scale, resulting in internal teams having to manually review … <\/p>\n

Continue reading “iHerb, an Ecommerce Leader in Health and Wellness, Partners with Riskified to Protect Online Revenues Against Fraud and Chargeback Costs”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-763068","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\niHerb, an Ecommerce Leader in Health and Wellness, Partners with Riskified to Protect Online Revenues Against Fraud and Chargeback Costs - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iherb-an-ecommerce-leader-in-health-and-wellness-partners-with-riskified-to-protect-online-revenues-against-fraud-and-chargeback-costs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"iHerb, an Ecommerce Leader in Health and Wellness, Partners with Riskified to Protect Online Revenues Against Fraud and Chargeback Costs - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"iHerb, an Ecommerce Leader in Health and Wellness, Partners with Riskified to Protect Online Revenues Against Fraud and Chargeback Costs NEW YORK–(BUSINESS WIRE)–Riskified Ltd. 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(NYSE:RSKD) today announced its partnership with iHerb, a global leader in ecommerce dedicated to health and wellness. iHerb is leveraging Riskified\u2019s ecommerce fraud and risk intelligence platform to boost approval rates and revenues, streamline its manual review processes, and minimize fraud losses. Founded in 1996, iHerb has scaled globally in recent years, taking its business to over 180 countries worldwide with over 10 million customers who purchased from iHerb in the last year. This rapid expansion has exposed the company to threats of fraud on a global scale, resulting in internal teams having to manually review … Continue reading \"iHerb, an Ecommerce Leader in Health and Wellness, Partners with Riskified to Protect Online Revenues Against Fraud and Chargeback Costs\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/iherb-an-ecommerce-leader-in-health-and-wellness-partners-with-riskified-to-protect-online-revenues-against-fraud-and-chargeback-costs\/","og_site_name":"Market Newsdesk","article_published_time":"2023-06-12T14:04:18+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230612968100r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iherb-an-ecommerce-leader-in-health-and-wellness-partners-with-riskified-to-protect-online-revenues-against-fraud-and-chargeback-costs\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iherb-an-ecommerce-leader-in-health-and-wellness-partners-with-riskified-to-protect-online-revenues-against-fraud-and-chargeback-costs\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"iHerb, an Ecommerce Leader in Health and Wellness, Partners with Riskified to Protect Online Revenues Against Fraud and Chargeback Costs","datePublished":"2023-06-12T14:04:18+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iherb-an-ecommerce-leader-in-health-and-wellness-partners-with-riskified-to-protect-online-revenues-against-fraud-and-chargeback-costs\/"},"wordCount":785,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iherb-an-ecommerce-leader-in-health-and-wellness-partners-with-riskified-to-protect-online-revenues-against-fraud-and-chargeback-costs\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230612968100r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iherb-an-ecommerce-leader-in-health-and-wellness-partners-with-riskified-to-protect-online-revenues-against-fraud-and-chargeback-costs\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/iherb-an-ecommerce-leader-in-health-and-wellness-partners-with-riskified-to-protect-online-revenues-against-fraud-and-chargeback-costs\/","name":"iHerb, an Ecommerce Leader in Health and Wellness, Partners with Riskified to Protect Online Revenues Against Fraud and Chargeback Costs - 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