In this episode of Total Retail Tech Insights, Editor-in-Chief Joe Keenan interviews Scott Stone, chief strategy officer at Sift, the leader in digital trust and safety, empowering companies of all sizes to unlock revenue without risk. Stone discusses how Sift's recent acquisition of Chargeback will bolster the company's overall offerings, his role at the business, and the types of chargebacks and fraud he's seeing in the market currently. He shares how the rise in e-commerce transactions has increased chargebacks over the last year, how friendly fraud pertains to chargebacks, and clarifies that there are not friendly fraud reason codes.
In addition, Stone discusses why he foresees increased levels of friendly fraud during the back-to-school shopping season, how retailers can prepare for a spike in fraud during the holiday season, and how Sift's automation tools can help mitigate fraud risk. Lastly, he shares how Sift's machine learning technology reduces false positives, and the potential value that chargebacks can offer to retailers.