{"id":2235,"date":"2019-11-20T17:55:21","date_gmt":"2019-11-20T12:25:21","guid":{"rendered":"https:\/\/rzpwp.blog\/?p=2235"},"modified":"2024-08-13T19:02:03","modified_gmt":"2024-08-13T13:32:03","slug":"shopify-thirdwatch-integration-activation","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/shopify-thirdwatch-integration-activation\/","title":{"rendered":"Fraud Prevention Solution Thirdwatch Trending on Shopify!"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Fraud prevention application Thirdwatch helps E-Commerce businesses on Shopify save a lot of money on Return-to-Origin (RTO) costs especially for Cash on Delivery (COD) orders. Before we get into the details of how to install <a href=\"https:\/\/razorpay.com\/thirdwatch\/\">Thirdwatch<\/a> and how it can be effective, allow us to explain the advantages and features of Shopify as an e-commerce business hosting platform.<\/span><\/p>\n<p><a href=\"https:\/\/razorpay.com\/thirdwatch\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2738\" src=\"http:\/\/blog.razorpay.in\/wp-content\/uploads\/2020\/03\/thirdwatch-1024x304.png\" alt=\"\" width=\"550\" height=\"163\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2020\/03\/thirdwatch-1024x304.png 1024w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2020\/03\/thirdwatch-300x89.png 300w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2020\/03\/thirdwatch-768x228.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2020\/03\/thirdwatch-1536x456.png 1536w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2020\/03\/thirdwatch.png 1632w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400;\">A little over a decade ago, if you had told us that there was one website that garnered over 218 million buyers from 175 countries in just a year, we would\u2019ve laughed at the sheer uncertainty.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But, things have changed beyond imagination in the last decade. As we\u2019re hitting the ceiling with hypercompetitive creativity, it\u2019s important to take a step back and look at how we got here.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> In this article, we\u2019ll be speaking about how a single-player, Shopify has transformed the e-commerce industry as we know it and most importantly, how you can use the channel to supercharge your business.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What does Shopify do?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">To start with, <a href=\"https:\/\/www.shopify.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Shopify<\/a> is an all-in-one platform to start, run, and grow an e-commerce business. India is a country majorly driven by small and medium businesses and for small players to grow, there needs to be a platform that allows them to run their business seamlessly. This is where Shopify steps in.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With a Shopify account, here is the multitude of things that e-commerce merchants can do:<\/span><\/p>\n<ul>\n<li><b>Start your business journey<span style=\"font-weight: 400;\">: Find a business name, buy a domain, and create a brand with Shopify\u2019s free tools suite.<\/span><\/b><\/li>\n<li><b>Sell everywhere<span style=\"font-weight: 400;\">: Use one platform to sell products to anyone, anywhere\u2014online with your e-commerce store, online marketplaces, and social media, and in-person with point of sale.<\/span><\/b><\/li>\n<li><strong>Market your business<\/strong><span style=\"font-weight: 400;\">: Take the guesswork out of marketing with built-in tools that help you create, execute, and analyze campaigns on Facebook and Google.<\/span><\/li>\n<li><strong>Manage your operations<\/strong><span style=\"font-weight: 400;\">: Use a single dashboard to manage orders, shipping, and payments anywhere you go. Gain the insights and knowledge you need to grow.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">What is the Shopify App Store?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Once you\u2019ve set up your Shopify account, it\u2019s easy to find a ton of features and plug-ins designed to accelerate your business. Shopify\u2019s App Store is filled with thousands of applications designed to cater to your every business need.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And that\u2019s Thirdwatch\u2019s entry into this article! The protagonist of this story has finally come into the limelight.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The e-commerce market in the world is growing at a rate faster than we can comprehend. With unforeseen growth comes unforeseen responsibilities. E-commerce sales worldwide are predicted to reach $632 billion by 2020!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But, do you know what\u2019s bigger than the market itself? It\u2019s the implications of fraud that come with it. As the trade grows, it\u2019s only fair to assume that the online market has become a breeding ground for online fraudsters to innovate their tactics.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">E-commerce fraud is one of the least talked about things for an industry so big. Most merchants assume the losses or fraud instances experienced during their stint is just \u201ccost of doing business\u201d.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">A closer look at e-commerce fraud<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here\u2019s the thing&#8211; e-commerce businesses don\u2019t have it easy, especially the small ones. In a hypercompetitive e-commerce environment, the only way to stand out is to offer exceptional customer satisfaction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To meet with the mounting expectations of customers, businesses often don\u2019t have a choice but to ship risky orders, in the fear of losing out on a genuine customer. This can often put a toll on their budget, as Return-To-Origin (RTO) orders take up the cost of logistics back and forth, often leading to losses.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how e-commerce companies lose money in processing these orders:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Forward &amp; reverse logistics<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Blocked Inventory (Items stuck in transit)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Physical quality check and re-packaging of returned items<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Increased probability of damage to fragile items, and hence more money spent in shipping them<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Operations costs in processing these orders<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">We took the time out to check out the RTO numbers and their true impact on business. Here\u2019s what we found\u2013 in case of COD orders, the percentage of RTO orders can be as high as 40 percent! <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Imagine spending double the shipping costs for 40% of all your orders, let alone the opportunity cost on the blocked inventory and operations costs to handle them.<\/span><\/p>\n<p><strong>Read more: <a href=\"https:\/\/razorpay.com\/blog\/ecommerce-business-cost-saving-rto-fraud\/\">Is 30% RTO the Cost of Running an E-commerce Business?<\/a><\/strong><\/p>\n<h2><span style=\"font-weight: 400;\">How can Thirdwatch help reduce RTO costs?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Thirdwatch is a simple plug-in that helps you detect fraud orders, impulse purchases, non-deliverable addresses and flag risky transactions in real-time and finally, improve profitability.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And what\u2019s better? <\/span><b>If you\u2019re a Shopify merchant, Thirdwatch integration can be done in minutes, it\u2019s that easy! Here are the simple steps:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Step 1: <a href=\"https:\/\/apps.shopify.com\/thirdwatch-stop-fraud-and-reduce-rto-using-ai\" rel=\"nofollow noopener\" target=\"_blank\">Install the Plug-in<\/a> on the Shopify dashboard<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Step 2: Sign up on the Thirdwatch dashboard with your account ID and password.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Step 3: Your centralized dashboard will be updated with the order status, along with actions for decision making. Start detecting fraud and saving money!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thirdwatch runs on Artificial Intelligence and Machine Learning to help identify fraudsters across different platforms. Machine Learning technology offers the right solution as it addresses all the challenges in preventing fraud \u2014 scale, complexity and changing patterns.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, by adding the price of the user\u2019s phone device or categorizing an address as five stars or one star, we turn meaningless data (phone model) into actionable information. This increases the accuracy of the red or green flag that the machine learning models generate for every transaction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Network effects can be harnessed by pooling in anonymized data to predict and prevent fraudulent behaviour. This de-incentivises and penalises fraudulent behaviour across the ecosystem.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, e-commerce firms will truly know their customers so that goods are delivered to a person not merely to an address.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most importantly, RTO will no longer be just the \u201ccost of doing business\u201d.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s what Shabaaz, Founder of Nicci SkinCare, an established online cosmetics store on the Shopify platform, had to say about Thirdwatch.<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">We&#8217;ve been in the business for a few years now and Return-To-Origin orders are a big problem for businesses like ours. Using Thirdwatch has helped us in dealing with incomplete addresses and in detecting impulse and fraudulent orders. Our RTO rate (significantly) reduced by 30% because of Thirdwatch and we saved over INR 1.5 lakhs monthly in shipping costs! Highly satisfied with the product\u00a0<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Curious to know more about how we\u2019re solving this for merchants? <a href=\"https:\/\/razorpay.com\/thirdwatch\/\">Get in touch<\/a> with a Thirdwatch expert today!<\/span><\/p>\n<p>Related Read: <a href=\"https:\/\/razorpay.com\/blog\/ecommerce-pos-integration\/\">What is eCommerce POS Integration &amp; How to Streamline Offline &amp; Online Sales?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you a Shopify merchant? Find out how you can detect fraud orders and impulse buys with the AI-powered Thirdwatch.<\/p>\n","protected":false},"author":35,"featured_media":2237,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[67],"tags":[43],"class_list":{"0":"post-2235","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-online-commerce","8":"tag-online-commerce"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/2235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=2235"}],"version-history":[{"count":1,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/2235\/revisions"}],"predecessor-version":[{"id":17256,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/2235\/revisions\/17256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/2237"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=2235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=2235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=2235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}