BackgroundLogotypon.com is effecting all of its annual transactions using online credit card payments. This factor attracted fraudsters who try to purchase a logo or another service with a stolen credit card.
The typical story goes like this: The cyber criminal uses a stolen credit card number to purchase a business logo online. After a month or so, the company receives a letter from the bank asking for documents proving the transaction.
Since on internet all credit card payments are considered as “Card No Present” transactions (CNP), logotypon.com is fully liable and has to refund the money back (charge-back).
The company's reaction trying to reduce its monthly losses is:
Manual monitor of each transaction - labor inefficient
Market exposure limitation - killing growth
Hard-coded rules - punishing good customers
The company's frustration watching that all their creative and difficult work is "stolen" away at the end of the day makes a top priority for the managemnet to identify an anti-fraud software solution in the market and apply it.
SolutionLogotypon.com contacted Fraudpointer Team and after a short correspodence, the company's management realized that they were in front of the solution to their problem.
The implementation of the Fraudpointer cloud-based platform which was effected by a local developer with the continous help and guidance of the Fraudpointer Support Team took one single day to be completed, since no additional software or hardware was needed.
ResultAfter the first few weeks of use the management of Logotypon.com wrote to Fraudpointer the following email:
"Dear Sirs, Online payment fraud for us was a daily “nightmare” until we discovered Fraudpointer. Now we can concetrate to our creative work and be sure that we get paid for all of it.
We wish to thank you and congratulate you for your innovative software. We will definitely recommend your solutions to other collaborating companies."
Marianna Mpalothiari - Office manager Logotypon.com
There was an extra reason for this kind email. Logotypon.com having less than 500 transactions per month, uses the platform free of charge even today.
-No more distraction from the core business
-No more losses due to CNP fraud that could affect seriously the economic future of the company
-No more losses of revenuew due to unfairly punished good customers
-No more danger for business disruption*
-Open door for all the new developing markets without any hesitance
*as Credit Card Association trigger sometimes severe fines (or even block the account) to merchants with high fraud transaction rate
About FraudpointerFraudpointer is a Software as a Service platform that enables businesses to prevent online fraud. The service combines a sophisticated but easy to use rules engine, a multi-million deep online reputation database and an advance device fingerprinting technology. Fraudpointer helps businesses to successfully prevent “card not present” transaction fraud, account take-overs, digital rights misuse and abusive behaviors. The platform is easy to integrate and fully customizable. If you run a business in the industries of banking, online travel, e-commerce, gaming and MMO, online gambling and casino, dating and social networks
Apply for your free account and start fighting fraud today!
For any supplementary information on the Fraudpointer solutions read the content of www.fraudpointer.com or contact our Sales Team on: firstname.lastname@example.org