Fraud Score Service at Volusion
Ecommerce software and solution provider Volusion announced Fraud Score today, a new credit card fraud protection service that helps merchants detect fraudulent orders before payments are processed.
Fraud Score identifies traits, patterns and trends that are associated with fraudulent behavior to assess transaction risk and reduce chargebacks for merchants checking more than 15 fields that include history, address, geographical IP, email and bank ID numbers to assign a numerical fraud score associated with each transaction.
Merchants will see a fraud score associated with each order in the order details page. A score of 0-300 will identify the risk involved with processing the order. Volusion provides an explanation of each risk category and information to help the merchant's decision.
I really like the sound of this service, because it carries with it the potential for merchants to save money on chargebacks. “Reducing fraud is critical to maintaining a healthy revenue stream, and Volusion has always made security a top priority with our industry-leading PCI/CISP certification status,” said Kevin Sproles, CEO of Volusion. “Fraud Score is designed to offer merchants even more protection and better revenue assurance.”
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