Mattress Firm has the largest geographic footprint in the United States among multi-brand mattress retailers. As its e-commerce business continued to grow, the company needed a robust fraud prevention solution to help lower chargebacks, one that wouldn’t hinder the sales process. The company’s previous rules-based fraud prevention provider was not flexible enough to handle the demands of the business and not accurate enough to distinguish legitimate customers from fraudsters.
Elevated chargeback rates were cutting into Mattress Firm’s bottom line. While many companies treat fraud losses as simply “the cost of doing business,” Mattress Firm had a different view. Specifically, when out-of-pocket expenses like sales commissions, delivery costs, and advertising were factored in to overall fraud costs, a dollar lost to fraud represented a significant business impact. With chargebacks in excess of 5%, Mattress Firm needed a better way.
Mattress Firm found the right partner in Forter. By using Forter’s fully automated, real-time fraud prevention platform, Mattress Firm has been able to slash chargeback rates by 94%. Forter’s approach does away with rules, instead relying on machine learning fine-tuned by ongoing expert fraud research to automate the decision process. Mattress Firm’s ROI has been immediate. By partnering with Forter, Mattress Firm has been able to rest easy — achieving more accurate results, higher approval rates, and lower fraud costs — protecting their bottom line and supporting revenue growth.