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With online sales booming, creating a fast and seamless experience
is key to customer satisfaction. However, creating a quicker yet safe
transaction is essential as a merchant. According to LexisNexis, merchants are
paying $3.10 (replacement costs plus fees) in costs for each dollar of fraud
losses incurred.

How can you provide a seamless transaction for both your
consumer and your business? Here are three steps for E commerce fraud
prevention:

Step 1: Auto-Complete
Addresses with Verified Information:

Customers are seeking a simplified checkout system, and when
provided, it becomes beneficial for both you and the consumer. An easy way to
do so is to integrate real-time address auto-complete solutions into Web forms
that will help speed up order entries with reduced keystrokes. Not only will
this make it easy for customers to enter an address with a type-ahead function
but you will also be able to ensure that only clean data is entered into your
database.

Step 2: Capture Clean
Data & Verify ID

Data entry errors include inaccurate data (44%); typos
(22%); and spelling mistakes (19%). The key to avoiding these data entry errors
is to employ what we like to call a “data quality firewall” in order to verify
accuracy of information. Capturing clean data from the moment it is entered
will help save time, money and improve customer satisfaction with more timely
shipments.

Step 3: Prevent Fraud
with IP Local

IP local helps you gather information to protect web forms
from spam and abuse as well as to identify problematic IP addresses or ranges.
It can help avoid credit card fraud by flagging invalid transactions and in
turn minimizing financial loss.

The successful delivery of products and services while being
protected from online fraud are all dependent upon accurate data. Implement
this easy 3-step process to successfully manage cleaning and maintaining data
while keeping customers happy and preventing business fraud.

Check out our video to learn more about how to prevent fraud. Or visit our website and see everything we have to offer. 

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