My guest in today’s episode is Shoshanah Posner the Director of Business Development at NoFraud. They are an online fraud prevention company that helps identify fraudulent orders while ensuring the highest order approval rate.
Chargebacks, unfortunately, are a part of doing business online. While many can be disputed effectively by providing proof that the items were shipped, it is almost impossible to win a fraud chargeback. Preventing fraud chargeback losses occurs at the point of purchase. A merchant needs to be able to distinguish between a good order and a fraudulent order and ensure that the fraudulent orders are canceled immediately.
Shopify offers basic fraud prevention tools with its Fraud Filter. According to NoFraud, there are some gaps in their native offering:
- A high rate of false positives. Many orders flagged as high risk are actually safe to ship.
- Orders need to be manually reviewed, especially those that are medium risk.
- Many orders that receive a Pass still results in fraudulent orders.
- Transaction risk factors are purposely vague so as to not educate fraudsters.
Today we will talk about a service that has been available to Shopify customers for several years and helps bridge the gap in what Shopify customers should consider when it comes to effective fraud prevention.
What You Will Learn Today
- Current fraudster landscape as it relates to data breaches, stolen card data, and synthetic identities.
- What is the Dark Web and what are people doing there?
- Reshipper fraud, triangulation fraud, mule fraud, and how you can protect yourself.
Links And Resources Mentioned In This Episode
- NoFraud <- 2 week free trial + fraud audit
- NoFraud Shopify App
- NoFraud Customer Stories
- ReCharge Payments with NoFraud
Tweetable Gold NuggetsNoFraud offers Chargeback reimbursement, eliminates the overhead costs of an in-house fraud prevention solution.Click To Tweet Manual review is time-consuming, costly, and relies on the fraud expertise of the merchant or employee doing it. NoFraud eliminates the need for manual review.Click To Tweet
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Picked, packed, and shipped.
This podcast episode was sponsored by ShipBob, the best-in-class order fulfillment company for small to midsize Shopify brands.
- ShipBob provides 2-day and 3-day shipping and fulfillment for thousands of direct-to-consumer brands. They’ve also been fully operational during the Coronavirus across their 9 fulfillment centers in the US, Canada, and Europe.
- ShipBob is also a tech-enabled 3PL that fulfills ecommerce orders for direct-to-consumer retailers. Their mission is clear…to make your Shopify brand successful by providing best-in-class logistics so your customers don’t go elsewhere.
- With reliable fulfillment services, warehouses near your customers, and connected technology that powers the fulfillment network, they will help improve transit times, shipping costs, and the delivery experience for your customers.