The Best eCommerce Fraud Tools to Help You in 2023

With more consumers driven by convenience shopping than ever before, it’s not surprising to learn that global retail eCommerce sales are projected to reach $5.4 trillion by 2022. However, global payment fraud is also on the rise and will cost merchants $40.62 billion in losses by 2027.

With a potential recession looming and fraud rising at an alarming rate, learning how to prevent fraud losses while becoming more profitable with the resources you already have is good business sense. Fraud prevention should not only reduce all fraud related costs, such as chargebacks and time spent on manual review, but also increase revenue by unblocking good orders that display risk factors and accelerating conversions to improve customer experiences.

Fraud costs the global economy over $5 trillion each year.

The Nilson Report projects that credit card fraud losses will exceed $50 billion in 2022. In 2020, CNP (card-not-present) fraud accounted for 68% of all losses to fraud experienced by merchants and acquirers. Particularly vulnerable to falling victim to escalating fraud trends are eCommerce merchants. Without access to physical payments or engaging in person with customers, eCommerce businesses are forced to rely on cold data and guesswork to verify the identity of their customers.

THE NOFRAUD SOLUTION

At NoFraud, preventing fraud isn’t just about avoiding losses but improving businesses and elevating customer experiences.

NoFraud integrates directly with your eCommerce platform to scan every order for signs of fraud in real-time. We use a combination of powerful algorithms and proactive human review to provide immediate ‘Pass’ or ‘Fail’ decisions for every transaction, eliminating the need to manually review orders or monitor fraud scores. We’re so confident in our decision-making that we provide a 100% financial guarantee, so if you receive a fraud chargeback, we’ll pay you back.

NoFraud is the price-performance leader, boasts the industry’s highest approval rates and offers a full financial guarantee and chargeback management service. Advanced machine learning, expert human oversight and an innovative Checkout set NoFraud apart. See an immediate impact on your bottom line, without manual review or training.

With NoFraud Checkout, you can improve conversions with a beautifully designed checkout experience built to remove friction and reduce cart abandonment. Any shopper recognized in the NoFraud network can autofill their information with one click—no tedious account registration required. For everyone else, NoFraud Checkout dynamically adapts the number of input fields based on customer risk factors. Low-risk shoppers are sped through, while riskier shoppers must provide more information.

See the NoFraud system in action.

NoFraud was built to provide the most effective fraud prevention service and solutions to create the best conditions for the entire eCommerce ecosystem to thrive, today, tomorrow, and into the future.

We offer a 100% financial guarantee against chargebacks, so you can approve more orders with confidence and a chargeback management service. With easy, quick integration options and flexible payment plans, NoFraud works hard to improve your bottom line from day one.

By Merchants, For Merchants

NoFraud was founded in 2014 by eCommerce merchants who, above all, appreciate the value of every sale. In addition to proactively preventing fraud, our teams identify and eliminate potential obstacles such as time-consuming manual review, declining false positives, abandoned carts, chargebacks and chargeback disputes. We take great pride in leveraging fraud prevention to improve eCommerce for merchants and consumers alike with the development of innovative systems to eliminate friction to retailers and shoppers, including a dynamic checkout solution that greatly improves customer experiences and increases conversions. NoFraud is invested in improving the bottom line of every NoFraud customer and takes great interest in their success.

NoFraud plug-in integrations are the easiest way to get started. Simply download NoFraud from the App Store of your eCommerce platform provider and you’ll be up and going in five minutes or less. It’s that easy to install, setup and adapt to your workflow without requiring any developer support.

888-773-3669
info@nofraud.com