Raycon Case Study
Fraud blocked in a week
Increase in approval rate by revenue
Increase in monthly revenue
“The introduction of anything new — a new subscription model, price point, ship method, payment processor — are all part of our conversations with NoFraud,” Jim shares. “As a strategic partner, NoFraud provides insight into common fraud schemes that we are able to get ahead of and prevent.”Ray J, Co-Founder @ Raycon Global
Raycon is one of the fastest-growing D2C brands, dedicated to shaking up the consumer electronics industry. Co-founded by entertainer/entrepreneur Ray J, the company is inspired by the go-getters, the early risers, the performers and one-more-milers of the world. That’s why they’re dedicated to creating high-quality wireless audio products that fit the wants and needs of all kinds of doers out there, without the markup or false hype.
Raycon products have been featured with high-profile celebrities such as P. Diddy, Justin Bieber, Snoop Dogg, Cardi B, Ne-Yo, Migos, Cara DeLevingne and many more. The company has garnered attention from media outlets such as Forbes, CNN, Mashable, Cheddar, and Billboard.
NoFraud Saves the Day: More than $200,000 in Fraudulent Orders Blocked
Since its inception, Raycon knew fraud prevention was critical to its business and launched with the NoFraud solution already in place. The solution ran in the background until Jim Schreiber joined the team as VP of Operations. Jim did a pulse check on all the vendors they used across the organization, setting up calls to establish working relationships. He found NoFraud stood out from the rest as his dedicated customer success manager, Cynthia Wambua, added much more value on top of the technology.
An integral partner, Jim was able to lean on Cynthia to forecast fraud hurdles. In one example, Cynthia flagged a common fraud trend rising that was specific to his industry — returns fraud. Within a week, Jim noticed his first case of returns fraud. Raycon had launched a new earbud product and sales spiked. However, they found that fraudsters were placing these orders — purchasing thousands of dollars of the new product with the intention of returning empty boxes.
“We were doing whack-a-mole as these orders were coming in,” explains Jim, as the amount of fraud continued to rack up at a startling pace. The returns fraud attack was costing Raycon tens of thousands of dollars per hour. Jim immediately called Cynthia and she jumped in to work with their programmers on setting up effective fraud defenses. By 4:00 pm that same day, their backend infrastructure was secure and this crazy day was over.
“Because Cynthia knew what she was doing and was able to help so quickly, we were able to save a couple hundred thousand dollars fighting returns fraud orders with NoFraud,” Jim shares.
NoFraud is the Best Partner
“As soon as we started leaning on NoFraud’s expertise, we noticed there were things we could do to get ahead of fraud,” says Jim. Today, the Raycon team looks at NoFraud as a strategic partner. They meet with Cynthia each month and lean on her expertise to keep their business secure and running smoothly.
“The introduction of anything new — a new subscription model, price point, ship method, payment processor — are all part of our conversations with NoFraud,” Jim shares. “As a strategic partner, NoFraud provides insight into common fraud schemes that we are able to get ahead of and prevent.”
“The level of service NoFraud provides, in addition to its technology, is what makes it a killer fraud prevention partner,” says Jim. Partnering with NoFraud has helped Raycon stay ahead of the curve when it comes to protecting its business from fraud.
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