Streamline Fraud Management
E-commerce in the United States now exceeds $200 billion dollars annually, and continues to grow. While the online movement presents tremendous opportunity, it does not come without its own unique set of risk factors.
While online merchants and e-commerce businesses have worked steadily to cut off the fraud element at the knees over the last 10 years, the overall cost of fraud management still weighs on the e-commerce industry. In a recent survey of online merchants, 75 percent of respondents claim they rely on manual reviews to prevent fraud, and review an average of 27 percent of all orders. The same group reported 2.8 percent of all potentially legitimate orders are rejected, and nearly 1 percent of all accepted orders still result in a fraud loss.
ID Insight works with its e-commerce clients to streamline the fraud management process at every turn. Whether you need predictive fraud scoring tools on your front line, a way to make quick work of your reviewed order queue, or investigative tools to get a bird’s eye view of those high-risk orders – we can help.
E-commerce Success Stories
Going Once… Going Twice…
This online auction company chose ID Insight to verify the identities of their new prospective bidders and auctioneers. In doing so, they were able to streamline their new account enrollment process and protect themselves from identity fraud.
A Diamond in the Rough
This online merchant of fine jewelry needed a way to prevent costly losses related to fraudulent orders, and Safe2Change was their solution of choice. With its ability to verify shipping addresses and identify potential fraud rings or reshipping schemes, Safe2Change allowed this merchant to confidently ship legitimate orders while avoiding fraudulent ones.
Ship with Caution
This platform provider serving e-commerce merchants has incorporated AddressWatch into their suite of fraud tools. Specifically, the high risk address data is used to screen shipping addresses and thus preventing costly losses and chargebacks for its clients.