Every online retailer will, at some point, be faced with fraud. It is as inevitable as taxes, but far more sinister!
It’s important to watch for common signs of fraud. Though the circumstances below often apply to honest customers, they can also be indicators of illegal activity.
Don’t worry, we have a great solution for you to detect online payment fraud and the name is “FraudLabs Pro”. below is FraudLabs Pro Review:-
What is FraudLabs Pro?
FraudLabs Pro helps merchants to protect their online payments from malicious fraudsters by screening credit card transactions.
Its comprehensive and advanced algorithm engines validate all elements such as geolocation, proxy, email, blacklist, credit card, transaction velocity and others to unveil fraud orders accurately. This plug-in operates behind the scene without interrupting the payment process and it provides detailed reports of all orders for the merchant’s reference.
Why Choose FraudLabs Pro?
Below are some key features of FraudLabs Pro which help you to understand why it is better than others:
- FraudLabs Pro score
- Custom validation rules
- FraudLabs Pro Merchant Network
- FraudLabs Pro Merchant Area
- Email notification of fraud orders
- Mobile app notification of fraud orders
- SMS Verification. Free 10 sms credits upon sign up
- Social Profile query
- Free if less than 500 queries per month
How does the FraudLabs Pro service work?
FraudLabs Pro analytic engine analyzes transactions parameters and reports fraud analysis in a fraction of second. Merchants can immediately decide next action based on fraud distribution score or custom rules by conditions. Further analysis of transactions is also available instantly in the merchant area.
The validation is a combination of Artificial Intelligence, algorithms, blacklists and rules. FraudLabs Pro provides merchants with the option to accept or reject transactions; this helps the algorithm learn even more and become more accurate.
They also put into use proper moderation of IP addresses, credit cards, email addresses based on curated data. The blacklists are highly accurate in catching any fraud occurrence.
Supported Platforms by FraudLabs Pro
Below is the list of e-commerce platforms supported by FraudLabs Pro:
WHMCS, OpenCart, Shopify, Magento, PrestaShop, WooCommerce, BigCommerce, AbanteCart, CS-Cart, CubeCart, LiteCart, MiwoShop, osCommerce, WP E-Commerce, VirtueMart, ZenCart, PinnacleCart and Arastta. And, the list is growing.
FraudLabs Pro Pricing
Looking for a free yet comprehensive fraud prevention solution?
Look no more, they offer you one right here. With their free Micro plan, you can start protecting your online business from malicious fraudsters. They provide you with 500 free validation queries that auto-reset every month and is more than sufficient for small & medium business.
They offer you 5 different plans for an upgrade. Each plan will have different validation queries limit, features and number of validation rules. You may visit their pricing page to find out more about the pricing, queries limit and advanced features available for each plan.
Hints to Help Identify Online Fraud: things to watch out for
It’s important to watch for common signs of fraud. Below are the hints:
Pay closer attention to orders that are …
Unusual large quantity purchase
Shipping to an address that isn’t the billing address
Shipping to countries you don’t normally ship to (especially if in high-risk areas)
Shipping multiple identical items
Unable to pass an address verification process
Out of the ordinary in any way
Pay closer attention to customers who:
Use an anonymous/free email address (like hotmail.com)
Supply a non-existent or under-construction website address
Use a disconnected or changed telephone number
Supply a fake-sounding physical address (such as 123 Side Street) or only a post office box number
Want to ship as quickly as possible at any price
Do not pass the credit or identity checks
Don’t make immediate full payment
Are first time buyers
Pay closer attention to credit card numbers that:
Generate multiple orders over a short time span, especially if each order ships to a different address
Are one of several card numbers shipping to the same address
FraudLabs Pro is undoubtedly something that you should get your hands on. So far, I’ve not found any hassles or problems with the service. If you’re a blogger, you can promote it as an affiliate as well.