From the beginning, we assumed (like many businesses) that our "creditor and/or payment gateway" handled fraud prevention. We assumed that if the creditor accepted the payment, the sale was legitimate and not fraudulent. We were so very wrong!
Just under a year of running our business online (which was making enough money to run itself and pay overhead expenses), we received our first "chargeback," a demand by a credit-card provider for a retailer to make good the loss on a fraudulent or disputed transaction.
Fast-forward several months and we'd received eight to ten chargebacks, all of which were for pricey services (dedicated and virtual private servers). When all was said and done, and the credit card companies had taken the chargebacks from us, plus the cost of the services we provided, plus a chargeback fee, we'd lost over $6,000 in income. This brought us uncomfortably close to redlining and was, as you can imagine, extremely upsetting, especially as we hadn't seen it coming.
The reality is that there is no real protection available for businesses in our situation. There are a few ancillary services that help the decision-making process when accepting a new order but without offering any guarantee or real protection. We used those services and our sales actually were hurt, since we were turning away good sales along with bad ones.
If you accept the order and process a payment, you're pretty much on your own. Until now. We developed SimpleFraud out of our own experience of losing time and money and expertise to chargebacks. Never again! With SimpleFraud you get the protection you need without endangering your company's growth.
SimpleFraud - Now it's simple to keep fraud away. It's worked for us and it will work for you, too.
Why not ask us how today? DevFX
SimpleFraud is developed by DevFX, Inc. and can be custom tailored to any client/customer order management/billing systems. SimpleFraud is currently available as an add-on for WHMCS the World's Leading Web Hosting Billing & Automation Platform.
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