Customers are a critical component of any business’s success because they are the primary source of revenue for most companies. Without customers, a business cannot generate sales, and without sales, a business cannot make a profit or sustain itself in the long term. Therefore, businesses must focus on building strong […]
Customer trust VS Data trust
Do you sell products or services from an online store? If yes, then you need to read on. Today, we are going to cover when to trust your customers and when to perform due diligence for fraud orders. As long as there have been e-commerce sites, there have always been […]
Protect your business from loyalty fraud
Businesses use loyalty programs as a marketing strategy to motivate customers to make repeat purchases of their products or services by offering rewards or benefits. Loyalty programs which include discounts, exclusive offers or free products or services are good in strengthening customers’ relationships with brands or services and thus boosting […]
Machine learning in fraud prevention
What is artificial intelligence? Artificial intelligence (AI), refers to the use of machines to perform tasks that a human being normally does. These include speech recognition, image recognition, translations and so much more. One of the famous example that had been introduced recently is ChatGPT. ChatGPT is an AI chatbot […]
How to Spot Fraud and What Next?
Fraud is becoming a growing concern in our society, affecting individuals, businesses, and even entire economies. According to Statista, e-commerce losses to online payment fraud is estimated to hit 48 billion U.S. dollars in 2023. It is important to be vigilant and actively spot fraud in order to protect yourself […]
Fraud Prevention with Tokenization
You may heard of tokenization lately but do you know why it is becoming popular in many industries such as e-commerce merchants, payment processors, and banks? Fraud is what happens when someone uses illegally obtained information such as credit card information to make purchases. For online businesses, this has become […]
What is digital fraud
Overview The last few years have seen a big jump in digital fraud since the COVID-19 pandemic’s outset in early 2020. Workers transitioned from office environment to working from home while students attended online classes. While studying and working from home was a necessity due to the pandemic, it has […]
Beware of chargebacks! It’s the holidays!
The last few months of the year is a busy time for merchants due to the holidays. Colloquially, the day after Thanksgiving is called Black Friday which marks the start of the Christmas shopping season in the United States. Merchants will heavily slash their prices to take advantage of this […]
Fraud prevention with SMS verification
E-commerce sites use SMS verification to prevent fraudsters from trying to create multiple accounts for making purchases with stolen credit cards. Such a verification step is part of the two-factor authentication process. Two-factor authentication (2FA) is a security system that requires two separate, distinct forms of identification in order to […]