How Two Brothers Are Solving the E-Commerce Industry's $200-Billion-Dollar Problem
Ariel and Avia Chen built the first AI-based, fully-automated, post-purchase chargeback solution that increases the e-commerce chargeback recovery rate up to 85%, returning much-needed revenue to business owners.
WILMINGTON, Del., April 12, 2022 (Newswire.com) - As the first automated, post-purchase chargeback solution, Chargeflow launches to combat the e-commerce industry's $200-billion problem of chargebacks. Founded by two successful entrepreneurial brothers, Ariel and Avia Chen, the Israeli-American startup Chargeflow was born from the needs of their thriving, cruelty-free e-commerce cosmetics brand.
Chargeflow's early adopters are seeing significantly improved recovery rates, with win rates hovering around 60% to 80% compared to the industry average of 12%. Available in the Shopify App Store, Chargeflow integrates with Shopify Payments as well as PayPal, Stripe, and Braintree, and is actively developing a multitude of additional integrations with other large e-commerce and payment providers.
"One of the most frustrating things was trying to focus on growing a meaningful product but being constantly pulled away to manage Stripe and PayPal chargebacks to ensure the health of the business. Chargeflow was the solution our eight-figure e-commerce business needed. With powerful, insightful data, merchants learn more about a customer's buying patterns, so they can proactively automate the chargeback mitigation process, lower dispute rates, and increase chargeback wins," said Avia Chen, Co-Founder, and VP of Product at Chargeflow.
The Chen brothers faced an alarming number of chargebacks, where a bank forces a refund from a business after a consumer disputes a purchase directly with their credit card issuer. When searching for a proactive solution, the Chen brothers observed that e-commerce chargebacks had grown a staggering 30% in 2020 and 2021, and discovered that most platforms on the market were either pre-purchase fraud solutions or chargeback mitigation services that came with increased costs, countless hours of manual data aggregation, and zero transparency. These solutions ultimately impacted the productivity and financial health of the business. Chargeflow assists merchants with combating friendly fraud, also known as false chargebacks.
"We designed Chargeflow to thoroughly address the chargeback pain points of e-commerce entrepreneurs. Chargeflow reduces the burden on entrepreneurs with simple integrations, success-based pricing, no commitment, zero contracts, and a seamless, automated chargeback recovery experience," said Ariel Chen, Co-Founder, and CEO at Chargeflow.
With a success-based pricing model and powerful artificial intelligence technology, real-time analytics, and predictive dashboards, e-commerce businesses have complete transparency and insight into their chargeback process and volume.
Chargeflow uses science-based algorithms and proprietary technology that leverage millions of data points to introduce unrivaled chargeback evidence, helping entrepreneurs save time and increase their profits.
For more information on recovering business chargebacks, please visit https://www.chargeflow.io/.
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Dan Johnson
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Source: Chargeflow