Feb 24 • General discussion
Cautionary Tale about Anti-Fraud in under 2 min
Here's a 2 minute video that could save you a LOT of heartache.
In short, I don't agree with the frame of this video because it makes it sound like this woman, as nice as she is - was in the right and Shopify was in the wrong.
Incorrect - as a business owner, this woman lost 7k due to her own ignorance of how Anti-Fraud works in eCommerce.
When selling Luxury items online, especially JEWELRY - you simply must be aware that we are playing a game with different rules.
The woman in the video clearly had some flaw in her ID Verification process which allowed someone to do in-store pickups in a way that they could chargeback the funds on the card after getting the Merchandise.
This broke my heart, because she seems like a really nice person that was just trying to give great service.
Unfortunately, not all Customers are your friend.
The tools Shopify mentions in this video are a mainstay among the big players in eComm Jewelry, but obviously they aren't going to tell you about them. I however, will:
- Sygnified is a great tool that was developed on 47th. We know, and have worked with the development team that created the tool - they are great people and their tool is used by $1 Million MRR eComm Brands. Highly recommend.
- Eye 4 Fraud (E4F) is also a very good solution.
*These tools are important because they offer Full Chargeback Protection, which is like Fraud Insurance for the Retailer.
Watch the video and know that you don't need to have this set up YET - but a day will come in your Business' maturity where Anti-Fraud becomes a necessary expense.
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Cautionary Tale about Anti-Fraud in under 2 min
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