Why Use FraudCall and Why does this method of Verification work?
Many other verification methods require a consumer to have a CVV2 number or pre-register with them, if a fraudster is capable of obtaining the consumers credit card, address and other information they will most often have this CVV2 verification code or other registered information. Although we think of a fraudster as being swift and crafty since they were able to obtain the customers information this method will backfire on them if the merchant is using FraudCall; we'll tell you why in a moment.
When asking many merchants what their procedures were when they verify a customers order the answer is almost always; that they pick up the phone and call the customer; BINGO! This was the answer we have been looking for!
By placing a call to the customer you are verifying that they did in fact place the order and they are the person that placed the order. Now most of the merchants that we asked had said that calling was the best means of fraud prevention for their company however many have also stated that they either did not have the man power to place a call to every customer that ordered or that it was too expensive to have their sales department call each customer and many stated that when they did place the call to the customer that it may have been several hours after the order was placed which means that the customer was either unreachable or not available.
This creates to much expense on the merchant to have their sales staff wasting time, although they were able to reach many customers the balance offset was not profitable. In online business having your sales staff waste valuable time is an overhead which costs companies money, so many merchants eliminate the procedures of fraud prevention and absorb fraudulent transactions as a cost of doing business online.
Now I think your starting to see why this method of verification works! Yes that's right, FraudCall places a call to each and every customer right at the time of purchase for under $2.00 per call and you can be sure that the customer that's on your web site is the actual customer.
Now lets see what we talking about Backfiring!
Ok picture yourself as being the fraudster, your placing an order online and you have all the information of that innocent consumer at your finger tips.
Your filling out all the information and then you get to the phone number field, Now you think to yourself what number are you going to put here? If you put your own you could be tracked down and being a criminal you don't want to be caught; So you put the innocent consumers number in the phone field, Ah now you think your going to get that big new server or that big fancy 60" plasma HDTV and its only moments away, but wait there's something wrong, the next screen says that the call is in progress, Your waiting..... then all of a sudden it says the call was declined. Yes that's right, the actual consumer received the FraudCall and was alerted that someone just tried to use their credit card to place a $3000.00 order. Now your thinking to yourself you will just move on and be more investigative in the future and make sure the next web site that you target target is not using FraudCall as their Fraud prevention service. Yes we've done our Job! We have just saved the merchant any processing fees and a charge back from the real customer.
With the VariLogiX verification in place; this allows your business to save time from manually verifying orders so you can concentrate on growing your business and supporting your customers. Your business will look more professional and will show your customer that you value the security of their information, using FraudCall is the proactive approach to fighting online fraud.
There are many more features; to experience this first hand you need to put the system into action on your site today! Signup NOW
FraudCall starting at just .35¢ per min; who can afford not to implement FraudCall