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Getting in Front of E-commerce Fraud

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Potenciación de WorthPoint

Como servicio de comercio electrónico basado en suscripción para coleccionistas y distribuidores que buscan valorar y fijar precios en el arte, las antigüedades y los artículos coleccionables, WorthPoint tiene una base de datos sustancial de 100 millones de artículos. La empresa vio cómo se dispararon las solicitudes de autorización hasta 30 000 por día y descubrió que el aumento fue causado por quienes roban información de tarjetas de manera fraudulenta que desbordaron su proceso de aprobación.

WorthPoint buscaba una solución para identificar de manera eficaz a los suscriptores legítimos y seleccionó a Worldpay de la solución FraudSight. Los resultados fueron evidentes rápidamente: Se eliminaron las aprobaciones fraudulentas, lo que aumentó las tasas de aprobación legítimas y minimizó los falsos positivos.

At a Glance

OBJECTIVE
Swiftly and effectively eliminate fraud without negatively impacting revenue.
SOLUTIONS

FraudSight

RESULTS
WorthPoint can decline fraudulent transactions before they go to the credit card company for approval, keeping ratings strong and avoiding fees. Fraudsight is so effective, card testers become quickly discouraged and go elsewhere. This became especially important during the initial outbreak of COVID-19 when card testing increased.

Impact

FraudSight has empowered WorthPoint to get in front of fraud, maintain strong ratings with their card company partners and focus on the fast-paced and fast-growing business of connecting art collectors and dealers.

60K fraudulent authorizations stopped within 10 days of implementation

37K fraudulent authorizations prevented at outbreak of COVID-19

Worldpay is able to help us make rules to decline fraudulent transactions before we send them to the credit card company for approval, so our ratings with the credit card companies don’t change at all. Second thing is that it’s cheaper for us to allow Worldpay to decline those than it is for the credit card company. And finally, it makes it so difficult on the card tester to continually hit the site that they end up going somewhere else.”
–Neal McAtee, WorthPoint CFO