7 Fraud Prevention Tools For E-commerce Merchants To Stop Fraudstersby Jane Hart Technical writer
E-commerce has made our life easier. Now, we do not need rush to physical store since we can have all sorts of needed things online to buy clicking a button only. But the fact cannot be ignored that constantly increasing ratio of fraud in E-commerce worthy to pay attention towards it.
If you are in e-commerce business then you must know about these prominent tools and tips to stay away from fraudsters. Let’s check it out in a detailed manner-
- Subuno– Subuno tools come up with 20+ fraud detection tool to cover a wide array of things including checking and providing detailed insight regarding your order reviews. With the help of this tool, you can easily get to know about the customer’s location. If you ignore the address of billing, shipping, and IP, you can be into trouble easily. Many E-commerce Development Companies emphasize the importance of “Address” that why you should not ignore it. The next on the list is that you should check the address of shipping, billing, and IP while doing business. If they are quite close to each other then it seems right. However, if not then you need to scrutinize more.
- Riskified – It is regarded as the best anti-fraud tool giving you real-time insight. It is loaded with a wide array of analytical methods including social media, order linking, proxy detection, chargeback fraud and so on. This modern tool is equipped with real-time insights quite helpful to detect fraudulent behavior fast and easily. Indian E-commerce Development Companies also agrees that it helps a lot to keep you not to get into the fraudulent case. Ina comparison of manual reviews, the updated machine learning imparts more speed. Moreover, using it (while doing business) makes you able to grab a wider array of online fraud signals.
- Signifyd – This tool helps to access all the orders and reports easily and fast. User can easily manage fraudulent activities on their own or can have the help of Signifyd team. The best thing about this tool is that you would not have to make any kind of big change to your platform while using it. The next on the list is Automated Workflow. It helps you to speed up your workflow in a great way. User is allowed to automate payment fraud checks, sending of order details, what kind of suspicious devices should be blocked; fraudulent orders should be canceled fast and so on.
- Simility – With this tool, you can assess the card fraud risk on mobile and desktop considering the fingerprints. It covers many aspects such as OS, username, battery level, browser, language and so on.
- Sift Science- This tool detects the fraud risk going on with the 5,000+ data points making it the best to use. It covers payment details, social media profiles, eCommerce merchants, account age and so on to make you have a safe e-commerce business. You will have fraudulent case alert via email or HTTP notifications. You will have all kind of suspicious activities on your single interface. It means you would not need to switch from one screen to another one. You will have all fraud screening process on a single screen.
- Forter – The next on the list is Forter giving you 360-degree fraud protection. It works on a fully automated system in real-time to give fast response to each type of transaction. The dashboard also gives great insight into the geo-location, payment details as well as behavioral data.
- Fraudlabs Pro – It comes up with amazing 40+ validation rules to accomplish effective fraud screening. This tool comes up with the facility of accepting 500 queries per month. It is equipped with great features in order to support different types of order validation. You can go with a free plan and facility of accessing different features such as merchant reporting, email notifications and so on.
You should always go with AVS in order to stay away from fraud. AVS stands for Address Verification Services designed especially to mitigate the ratio of a fraudulent transaction. Ecommerce Development Companies say that AVS plays a major role to compare the billing address introduced by the customer at the time checking out to the address the issuing bank has on file. In case if it does not match, it indicates the sign of fraud.
Do not forget to consider these above mentioned points if you want to keep going on with your e-commerce business safely and fast.
Created on Aug 14th 2019 02:21. Viewed 72 times.