When Ezzie Schaffran, chief operating officer of Certified Watch Store, approached us last August, his site, CertifiedWatchStore.com, was using a hodgepodge of outside and in-house security measures to catch payment fraud.
Schaffran has a long history of fighting online payment fraud, having served as COO of jewelry e-retailer Ice.com. He considered a crop of vendors offering transaction insurance for CertifiedWatchStore.com, but says he found the fees, which ranged from 0.5% to 3% of the transaction value, higher than he thought practical. (more…)
In 2014, eCommerce fraud cost US retailers 32 billion dollars (LexisNexis true Cost of Fraud Study 2015). That amount soared 11% as fraudsters refocus their efforts on eCommerce enterprises since the implementation of EMV chip technology that makes brick and mortar store transactions more secure. Unfortunately, as fraud prevention methods get more sophisticated, so do the fraudsters. As seasoned fraud prevention experts, NoFraud is at the forefront of battling fraud and would like to share the following tips to help you secure your eCommerce transactions. (more…)