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Getting in Front of E-commerce Fraud

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Capacitando a WorthPoint

Como um serviço de comércio eletrônico baseado em assinatura para colecionadores e revendedores que buscam valorizar e precificar arte, antiguidades e itens colecionáveis, a WorthPoint tem um banco de dados substancial de 100 milhões de itens. A empresa viu as solicitações de autorização aumentarem para até 30.000 por dia e descobriu que o aumento foi causado por testadores de cartões fraudulentos que inundaram seu processo de aprovação.

A WorthPoint buscou uma solução para identificar efetivamente assinantes legítimos e escolheu a Worldpay da solução FraudSight. Os resultados ficaram evidentes rapidamente: Foram eliminadas aprovações fraudulentas, aumentando as taxas de aprovação legítimas e minimizando resultados falso-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