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New Tool Helps Protect Online Merchants From Fraud

Fraud Score guards against credit card scams

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[ Technology]

Volusion, a provider of online shopping cart software for businesses recently introduced its newest credit card fraud protection service, Fraud Score.

Volusion spoke with WebProNews about Fraud Score and how it works to protect online merchants of any size from fraudulent transactions.

When an order is placed customer information is cross-checked in real-time with a large database of thousands of online merchants and more than 100 million transactions. Fraud Score screens more than 15 fields which include: proxy detection and risk assessment, IP address, bank identification and address verification. After these criteria are checked, an overall risk score is generated to determine the legitimacy of the order.

There are three levels of risk, minimal, moderate and high. The Fraud Score scale ranges from 0 to 300 with 0 being the highest level of risk and 300 being the lowest level of risk.

"As a former online store owner I can attest to the importance of Fraud Score," said Volusion CMO and COO Clay Olivier.

"I got defrauded out of $900 once and lost all my merchandize on a single order. It was a painful experience and I felt helpless since I wasn’t able to verify the order beyond the basics. Fraud Score will greatly reduce the risk of our merchant customers falling prey to the same scams."

Fraud Score works with both Google Checkout and PayPal as well as with other payment services. 

Unfortunately, fraud remains a concern for all online merchants, but being able to prevent it from happening is key to running a successful ecommerce business.

 

New Tool Helps Protect Online Merchants From Fraud
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  • http://www.lingerie2order.com Sexy Lingerie

    It sounds like a great idea but will everyone get the chance to use this fraud score or will it be an extra chargeable service? I am thinking if it comes as standard with paypal then it is a good step in the right direction.

    • Guest

      1. The fraud score costs extra per month and is overpriced.
      2. One way to reduce fraud is to reduce sales, something Volusion can help you do for free because it CAN’T KEEP ITS STOREFRONTS UP ever since switching from Rackspace to in-house hosting. Hours of downtime with multiple outages in the past 24 hours, many other incidents in the past weeks, etc. More downtime in the first two months of 2010 than all of 2009.

      Buyer beware.

  • http://www.volusion.com Matt @ Volusion

    Hi there,

    My name is Matt and I work here at Volusion. This exciting new service is available to everyone using the latest version of our shopping cart software. Fraud Score is an addition to the software itself, so there is a separate charge to take advantage of the fraud detection.

    Check out more information and see the pricing here: http://www.volusion.com/fraud-score.asp.

    Let us know if you have any questions!

    -Matt@Volusion

  • http://www.adtastichosting.com Thomas@Adtastic

    Sounds like an ok service IF you are a Volusion customer. But it is one-sided. Because you HAVE to be a Volusion customer in order to appreciate it and there is already a very comprehensive service of its type that does the same thing but doesn’t force you to have to be locked into using one provider. Therefore, since your article doesn’t make any comparisons and provide the reader with a legitimate comparison of services available, it is really obviously not really nothing more than an advertisement for Volusion whereby you have to pay them a monthly fee to be able to use their shopping cart and then an additional fee in order to use the fraud score.
    But in reality, small businesses can benefit in other ways with other carts that don’t have a monthly fee and they can use MAXmind for the fraud score and fraud prevention. Maxmind is very comprehensive, has been around for years and has a free version. We’ve used it for years in our hosting business and it has caught fraud 99% of the time and our manual review process caught the other 1%. Thus, we recommend it to our customers because our business is dedicated to providing our customers unbiased, cost effective services regardless of the provider.

  • http://inchoo.net Toni Anicic

    Is this solution open for other carts or do you plan to make it open for other carts?

  • http://www.tti-plus.com Troy

    Would be nice if Volusion could keep our sites up the service for hosting at Volusion is at its worst. Been with them for 3 years now and the service since October 2009 has gone down the tubes.

  • Guest

    This is great, but unfortunately volusion can’t keep their customers stores or their own site up, so it’s a little pointless.

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