Forter customer since 2018
Extremely High Chargeback Rate Due to Rules-Based Solution
Extremely high chargeback rate due to rules-based solution
Mattress Firm’s rules-based fraud prevention system was not accurate enough to distinguish legitimate customers from fraudsters and could not keep up with the ever-changing fraud trends. When the company factored in out-of-pocket expenses like sales commissions and delivery costs, fraud costs impacted the business significantly.
Reduce chargebacks without adding roadblocks
Mattress Firm wanted to reduce chargebacks without adding roadblocks to the sales process, plus be flexible enough to handle the demands of the business. The solution also had to support accurate, real time decisioning and minimize false positives, a common issue with rules-based systems.
Automated solution dramatically slashes chargeback rate
With Forter’s Payment Fraud Protection Solution, Mattress Firm has slashed the chargeback rate by 94%. Forter’s approach does away with rules, instead relying on machine learning to automate the decision process. Automating fraud at the point of transaction has allowed the company to increase approval rates and significantly lower fraud costs.
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