14 Reasons Every Online Store Needs to Get Fraud Protection

Companies that sell on the internet are on the hook for any stolen credit cards they accept. This means that unless they want to lose a lot of cash to people who stole credit cards, almost every company has at least one individual checking their customers orders before they ship. But for many web based companies, ‘validating their orders’ tends to mean one or two people who are given minimal resources and tasked with the enormous goal of approving all the ‘good customers’ and cancelling all the ‘bad orders’. Here are 14 quick points on why online stores need to get serious about protecting themselves from fraud lest they drive their fraud prevention staff insane.

  1. Your online store has started to process bad credit cards, and no one has a game plan on what to do.

tumblr_mmyrbiLIyA1rfzzkxo1_500 I don't know what to do

2. Your quick solution is to look up your customers on the web, which turned out to be a big task.

anigif_enhanced-buzz-18034-1381104650-21 Will Ferrel

3. Your company spends hours on Google, and yet you can’t ever find your customers.

anigif_enhanced-buzz-19423-1374638406-9 yeah, you failed

4. You were already an indecisive person before having to decide what orders are good and what orders are bad, and now every decision is a fight against analysis paralysis. 

anigif_enhanced-buzz-15242-1374670158-37 Aladin

5. Your decisions are almost entirely based on gut feelings, and you want/need the data to back up your instincts.

anigif_enhanced-buzz-24198-1382405513-11 Anchorman

   6. When Google and Facebook aren’t enough, you have to call your customers.

anigif_enhanced-buzz-4529-1380929532-10 parks and rec 2

    7. But calling customers is a pain for you and an annoyance for them.

anigif_enhanced-buzz-4202-1380929257-4 Anne from parks and rec

     8. And you have so many customers!

   spn-0-dustily we got work to do

     9. And your company recently started taking international orders, so you can only pray that your customers from Japan and Vietnam somehow speak English.

speak english

                                                 You suddenly discover how much you love Google translate

    10. You have to double check your customers address by where they made their purchase, and are suddenly introduced to the complicated world of IP’s. (Internet Protocols)

spying catWe swear we aren’t spying!

    11. Except that people can hide their true location online, and your sociology degree from college didn’t train you in how to detect fake IP’s.

dog at computer

    12. You find yourself dumbfounded by the email aliases people use, and find new found respect for customers who have simple first name, last name email addresses. 

74124-nathan-fillion-judging-you-gif-4v9D judging you

13. You also learn that the numbers on a credit card are not random, but are part of what is called the Bank Identification Number which helps track the card by country and bank issuer. 

that is brand new information

14. But now your boss is wondering why it’s taking you 15 minutes to look up all this information for each customer and talk to said customer, if you can even find them. 

overwhelmed girl

15. Which is why fraud prevention companies like Signifyd exist to make your life 1,000 times easier.

Yes_ye_syes yes!

Signifyd

Signifyd, the world’s largest provider of guaranteed fraud protection, enables ecommerce retailers to provide friction-free buying experiences by shifting fraud liability away from merchants.

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