Boltron’s E-Commerce Reviews Platform uses order data to determine an online’s store reputation. We will explain how it works in three segments.
Most credit card processors have an acceptable refund/chargeback ratio compared to total orders for each merchant account. Any ratio above 1% is considered medium to high risk depending on the industry. Refund ratios above 2% is considered high risk and most merchants will lose their ability to accept credit cards at their store.
Our grading system use the same ratio that credit card processors use. Boltron’s platform uses the same ratio. We take the data from your store compare refunds, cancellations, and chargebacks reported by your credit card company’s ipn settings with your merchant store against the total number of orders. This accounts for 80% of your total grade.
Unlike our platforms like yelp.com, tripadvisor, better business bureau, Manta, Reseller Ratings, Angieslist, YellowPages, and etc which rely 100% on customer review; customer reviews only count for 20% of the total grade in the Boltron platform.
Why only 20%? Most review platforms that integrate with a merchant’s store spam customers days, even weeks after an order to compel the customer to submit a review. Negative reviews are typically submitted automatically. Therefore, merchants are given an unfair advantage to prove consumers that they are a trustworthy.
Data Quality Assurances
Boltron’s platform implemented safeguards to ensure accuracy. Merchants can not alter their refund/chargeback ratio data. Though merchants do have a 72 hour window of opportunity to cancel orders without affecting their rating. This is to accommodate orders that are cancelled prior to order fulfillment.
Merchant Order/Refund data is updated automatically. Therefore, if a merchant receives a chargeback from their processor and their store has IPN connectivity with their processor; once the merchant is notified of this chargeback or issues a refund; our platform updates that data within minutes.
Customer information is not gathered in the entire process. We only collect Order ID, Customer ID, Order Date, Completed, and Refund/Cancelled/OnHold that’s stored at the merchant’s store. Therefore, there is no risk of privacy violations.
Display Grade on Store Page
The merchant profile is SEO friendly, therefore boosting the merchant’s store search engine rankings.