The global ecommerce market is predicted to be worth US$2.4 Trillion by 2019. In short, it’s growing at an alarming rate with more and more businesses switching to selling online and more consumers opting for the ease and convenience of online shopping, where it’s all done with just a few clicks of the mouse! Unfortunately, it also means that online payment fraud, a notorious companion, will tag along for the ride. (ughh)
STOP ONLINE SCAM! Learn to protect yourself when selling online
Just last week, we received a complain from one of our merchants, Jack* that he fell victim to this online payment fraud scam. Jack* sells video games and games consoles online and his online store does very brisk business, making over 200 orders per week. A few months back, he received an order for a games console. After receiving the order, the particular customer, filed a dispute with the bank that he did not receive the item which he paid for though there was proof that he signed for the order when he received it. Although Jack provided all the necessary documents to his bank and payment providers, unfortunately he lost the case and the charge back was successful. Feeling frustrated, Jack looked up the IP address of the customer and banned him. Thinking that was all over and done with, he went back to business as usual. However, just last week, 3 months after that fraudulent order was made, the GUY is back! Again, he placed another order for another games console and paid for it in FULL. The order was again shipped out and Jack again received another dispute for the order placed. AGAIN, he failed to make a case with the bank and lost out! I am sure MANY of you have been in Jack’s shoes before and it’s extremely FRUSTRATING! You may be selling products and services with very low profit margins and every time such an online fraud happens, it just ZAPS out the profits that you made with all your previous orders and make you doubt and lose faith in selling online!
“SHOULD I CONTINUE TO SELL ONLINE?”
“IS IT WORTH IT TO CONTINUE TO RUN MY ONLINE STORE?”
We feel your pain and know how frustrating this can be! So instead of letting a few scoundrels ruin the successful online business venture that he runs, we helped Jack take positive steps to make sure that this incident does not happen AGAIN! Just plain barring the I.P address has proven not to work so we designed out a FRAUD PROTECTION PLUS module.
WHAT DOES THE FRAUD PROTECTION PLUS DO FOR YOU?
#1 – BANNED ADDRESS BOOK
The Fraud Protection Plus module allows for you to enter the fraudster’s physical address directly to a BANNED ADDRESS BOOK. With this, your store will do a check each time a customer checks out. If the SHIP to address FULLY matches any of the address that’s been listed on the banned list, then the customer will not be allowed to CHECK OUT. They will be redirected to Google’s page instead of to the payment page to make their payment!
#2 – SOUNDEX CHECKING
We also added on a second layer of protection by implanting the SOUNDEX checking. With this checking method, if we detect the address that is listed sounds somewhat similar to the one that has been banned, we will mark the order out as POTENTIAL FRAUDULENT order. The customer is still able to check out and pay for the order but this particular order will be highlighted on the ORDER LIST to draw your attention to it.
For example you have a banned address listed as:
4050, Taylor Street,
San Diego, CA
If your InstanteStore receives an order with a pretty similar address, say,
450, Tailor St,
San Diego, CA
then this particular order will be allowed to be checked out completely but it will be FLAGGED as a potential fraudulent order on the Order Listing panel.
So now, with the Fraud Protection Plus module, not only are you able to ban potential fraudsters based on their geolocation IP addresses, you can also ban them based on their physical addresses and to be forewarned of any potential ones as well.
Fraud Protection Plus helps you to increase your online store profits by reducing chargeback and fraud losses. Best thing is that it comes built in with Profit Machine Plans and above.
Please feel free to email me at email@example.com if you do have any questions or would like to know more about our Fraud Protection Plus module. Better to be safe than sorry!
- Mobile Commerce Set To Skyrocket In South East Asia
- Is Your Site’s Mobile Buying Experience Ready For The Holiday Shopping Crowd?
- 5 Ways To Make Your Website More Trustworthy
- 3 EASY Mistakes : E-Commerce Businesses Make
- Discounts and Offers: Can It Be An Advantage To Your Business?