Riskified, headquartered in Tel Aviv, helps businesses to realize the potential of eCommerce by making it safe, accessible, and frictionless. Their eponymous platform allows online merchants to create trusted relationships with their consumers. Leveraging machine learning that benefits from a global merchant network, the platform identifies the individual behind each online interaction, helping merchants eliminate risk and uncertainty.
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PaymentWorks
Riskified
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PaymentWorks
Riskified
Free Trial
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Free/Freemium Version
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Premium Consulting/Integration Services
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Entry-level Setup Fee
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Community Pulse
PaymentWorks
Riskified
Features
PaymentWorks
Riskified
Fraud Detection Software Features
Comparison of Fraud Detection Software Features features of Product A and Product B
Appropriate only for US customers with domestic banking institutions who speak English fluently.
Not appropriate for any foreign vendor to get paid in less than 6 months. The data is poorly designed. The software defaults to domestic banking information such as routing number. Vendors then choose check payments overseas which take 45 days and usually never arrive. I end up submitting the same payments over and over. Customers are always angry and I have no ability to help them.
To prevent CNP fraud in travel industry I believe that Riskified is well suited To prevent ATO, if you have customers that they dont use credit cards and they pay by bank transfer I believe that is not well suited
Collaboration; Riskified builds strong relationships with their clients and works to always meet the clients' needs
Ascend; This is a great way for Riskifieds clients to meet, collaborate and learn from each other
Innovations; Riskified puts a huge emphasis on listening to their clients and finding a way to meet their needs, whether it's chargeback related, fraud screening related or abuse related.
Software design especially in regards to entering foreign bank accounts
Customer service never really assists the customer
Admins are not notified when there is incomplete registration or problems with the information entered. We have to wait for the customer to contact us and by that time they are very angry and their payment is very delayed
The only language available is English. The tax forms are only available in English
Missing functionality/ explanation: not having full understanding why some orders with multiple "red flags" are accepted/approved by Riskified
Missing functionality: It would be great if there was an option to resubmit an order after approving a second look (so that the customer doesn't have to place a second order)
The support I've received isn't always uniform (sometimes the agent will ask me to provide additional information about an order, sometimes they won't. It seems to be random?)
Administrators hate the system because they cannot see any information in order to assist customers. Customers hate it because registration is lengthy and difficult and only available in English
We needed to spin up hundreds of accounts very quickly, and their team, within a few days, was able to spin up a custom workflow for our team to do this at scale - they moved heaven and earth to make it possible practically overnight.
I was not involved in this choice and the people who chose the system are not end users of this software. The end user experience was never considered when this decision was made. Admins and customers hate PaymentWorks. It is only effective at wasting your time and money and employee resources
I would say that the main difference between Riskified and Signifyd is the level of client service, which drives success in other aspects. We did not have a dedicated account manager with Signifyd, so there was no one to deal with issues. Signifyd's billing is also very messy, and we found that they did not reimburse us for a significant amount of chargebacks. Riskified's billing is easy to reconcile, and we've never had that issue.
Zero return on investment. It takes 3 people to do the work that one person used to be able to manage.
The only way that I can find out if there are problems is if the customer contacts me about non-payment.
Zero integration with our accounting software. New vendors have to be manually transferred from PaymentWorks to the accounting software. Updates to PaymentWorks have to be manually carried from one system to the other. There are no notifications when these processes have been completed
Since implementing and working with Riskified we have seen a steady decrease in our fraud losses on our e-commerce orders. Riskified is able to quickly adjust its models to mitigate new trends
By eliminating the need to "challenge" orders we have been able to save on staffing needed for manual review and we have seen a decrease in callback rates for our fraud reviewed orders.
