KING OF PRUSSIA, Pa., June 26, 2017 /PRNewswire/ -- Radial, the leader in omnichannel commerce technology and operations, today announced Everlast significantly increased top line revenue and eliminated fraud liability by replacing its in-house payments and fraud management cost center with Radial's fully outsourced Payments, Tax & Fraud solution. With eCommerce retailers now facing a 60 percent increase in fraud attacks over 2016, Everlast is completely protected from this daunting threat.
"As retailers prepare for peak season, arming themselves with a sophisticated fraud management solution is imperative, especially given the speed and aptitude of today's fraudsters," said Stefan Weitz, EVP, Technology Services at Radial. "With Radial Payments, Tax & Fraud, Everlast has covered all of its bases. It no longer has to worry about payment processing or complex taxation; its chargeback liability is now zero and best of all, it's capturing more revenue and creating less friction for its customers."
Radial's fully-outsourced Payments, Tax & Fraud solution uses sophisticated machine learning and a cache of billions of historical transaction records to instantly approve good orders while holding only the riskiest for manual review, relieving brands like Everlast of the growing burden of thwarting fraud attacks.
Prior to leveraging Radial's Payments, Tax & Fraud solution, Everlast was manually reviewing 100 percent of its orders. The only exceptions were orders with no CVV matches, which were automatically canceled. Manual reviews were conducted by a single analyst Monday through Friday using a third-party tool and Google searches to verify billing addresses and phone numbers. With no way to prioritize orders, orders were simply processed by time stamp -- first in, first out. Everlast was also receiving two to five chargebacks per day, and relied solely on proof of delivery as evidence to dispute these chargebacks.
As a whole, Everlast's fraud management processes were negatively impacting top line revenue, the overall customer experience, and interchange rates with payment providers. With EMV looming, Everlast partnered with Radial and the results were dramatic:
- 8 percent increase in conversions and top line revenue
- 83 percent decrease in manual reviews
- 62 percent decrease in fraud attacks
- Zero fraud liability
"We were looking for a solution that streamlined labor-intensive manual reviews and scaled to meet peak requirements," stated Mark Hunter, CFO & EVP of Operations at Everlast. "Radial's sophisticated fraud screening technology minimizes canceled orders and the number of orders requiring manual review. We now have dedicated Radial experts that are 100 percent focused on fraud analysis and order conversion 7x24x365. That translates into higher approval rates and revenue and less friction, establishing the right balance for us and our customers any time of the year."
Radial is the leader in omnichannel commerce technology and operations, enabling brands and retailers to profitably exceed retail customer expectations. Radial's technical, powerful omnichannel solutions connect supply and demand through efficient fulfillment and transportation options, intelligent fraud detection, payments, and tax systems, and personalized customer care services.
Hundreds of retailers and brands confidently partner with Radial to simplify their post-click commerce and improve their customer experiences. Radial brings flexibility and scalability to their supply chains and optimizes how, when and where orders go from desire to delivery. Learn how we work with you at www.radial.com.
The preeminent brand in boxing since 1910, Everlast is the world's leading manufacturer, marketer and licensor of boxing, MMA and fitness equipment. From legendary champions Jack Dempsey and Sugar Ray Robinson to current superstars Benson Henderson and Canelo Alvarez, Everlast is the brand of choice for generations of world champion professional athletes. Built on a brand heritage of strength, dedication, individuality and authenticity, Everlast is a necessary part of the lives of countless champions. Based in Manhattan, Everlast's products are sold across more than 75 countries and 6 continents. Learn more at www.everlast.com.
PAN Communications for Radial
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