Automate Fraud Prevention with New Settings

Executive summary:

• Automates fraud prevention settings for Shopify Payments.
• Optimizes transaction security using over 400 fraud signals.
• Benefits primarily for merchants using Shopify Payments.

What changed

Shopify Payments users can now automate their fraud prevention settings. These settings align with Shopify's latest recommendations and update automatically when these recommendations change. This feature is designed to enhance both security and convenience for merchants.

Why it matters

This automation allows Shopify Plus merchants to streamline fraud management processes, ensuring enhanced protection against fraudulent transactions without manual updates. By leveraging a model that uses over 400 fraud signals, merchants can achieve higher accuracy in fraud detection and prevention, protecting revenue and reducing chargebacks.

Role-specific impact

• Marketers: Improved customer trust can enhance brand reputation and conversion rates.
• Developers: Reduced need for custom fraud prevention coding, saving development resources.
• Store admins: Less manual oversight needed for fraud settings, allowing admins to focus on other core tasks.

Use-case example

Real-world scenario & metric

A large electronics retailer integrated automated fraud settings and saw a 25% reduction in chargebacks over three months. This not only saved on financial losses but also improved customer satisfaction by reducing payment-related issues.

Implementation checklist

1. Navigate to your Shopify Payments settings.
2. Enable the automated fraud prevention option.
3. Review updated settings in alignment with Shopify's recommendations.
4. Monitor transaction logs to ensure effectiveness.

FAQ

Q: What fraud indicators does Shopify consider?
A: Shopify uses over 400 fraud signals, including AVS and CVV verification checks.

Q: Can I manually adjust settings after automation?
A: Yes, manual adjustments are possible but not recommended for optimum results.

Resources

For more details, visit the Shopify Help Center.

Need guidance? Talk to Makro.