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Tackling eCommerce Challenges: Big Data and the Future of Chargeback Prevention
Functional Community Talk
Yer: Hall 7.E @ 8.11.2023 17:00 - 8.11.2023 17:30 (Europe/Brussels) (30 dakika)
Tackling eCommerce Challenges: Big Data and the Future of Chargeback Prevention
Kaylie Kipe
Vice President de Hibou Corp.
Kaylie Kipe
Vice President de Hibou Corp.

Kaylie Kipe is the lead business consultant at Hibou, a US-based Odoo Partner. Hibou focuses on sustainable solutions, both out-of-the-box and through custom development, backed by enterprise-level support and user documentation. Hibou is also an avid contributor to the Odoo open-source community, OCA, and though their Hibou Odoo Suite: https://gitlab.com/hibou-io/hibou-odoo/suite


Chargebacks pose significant challenges for online retailers, as they involve credit card transaction reversals which are requested by the cardholder and processed by their bank. These requests often arise for valid consumer protection reasons, such as lost or stolen credit cards used for unauthorized purchases. However, dealing with chargeback notices is a daily reality for eCommerce companies that can lead to potential losses in product costs, shipping expenses, and revenue.

To minimize the risk of chargebacks, some retailers opt to hire dedicated staff to scrutinize orders for irregularities that may indicate a chargeback possibility. However, this approach can be costly and relies on individual judgment to detect potential issues.

A more efficient solution involves harnessing the power of big data! Leveraging Hibou's Signifyd module, retailers can automate the evaluation of orders using the advanced fraud detection capabilities of Signifyd. This integration bridges the gap between Odoo eCommerce orders and Signifyd's algorithms, enabling the analysis of important order data (such as addresses, phone number, email, and the last four digits of the card) and recent purchases made with these details across retailers. Signifyd then provides an order decision or guarantee so you feel confident in processing or canceling the order. If a chargeback occurs on a guaranteed order, Signifyd then reimburses your business!

During this talk, we'll walk through the setup and usage of Hibou's Signifyd module, covering the following key topics:

- Obtaining and entering Signifyd API credentials
- Automatic opening of a Signifyd case when an eCommerce order is placed (orders display a smart button indicating the Signifyd score for easy reference)
- Holding shipments until an order receives a Guarantee Status of Approved from Signifyd, ensuring non-guaranteed orders are not shipped (a smart button on the delivery order displays the Guarantee Status)
- Conveniently accessing Signifyd records directly from Odoo for quick reference
- Manually updating the status to force ship an order (regardless of Signifyd approval) when necessary, based on your discretion.

By relying on Hibou's Signifyd module and leveraging data-driven insights, retailers can streamline their chargeback prevention efforts, leading to improved operational efficiency and reduced financial risk.