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Getting in Front of E-commerce Fraud
As an e-commerce, subscription-based service for collectors and dealers looking to value and price art, antiques and collectibles, WorthPoint has a substantial database of 100 million items. The company saw authorization requests spiking up to 30,000 per day and discovered the increase was caused by fraudulent card testers flooding its approval process.
WorthPoint sought a solution to effectively identify legitimate subscribers and selected Worldpay from FIS’ FraudSight solution. The results were evident quickly: Fraudulent approvals were eliminated, increasing legitimate approval rates and minimizing false positives.
At a Glance
OBJECTIVESwiftly and effectively eliminate fraud without negatively impacting revenue.
RESULTSWorthPoint can decline fraudulent transactions before they go to the credit card company for approval, keeping ratings strong and avoiding fees. Fraudsight is so effective, card testers become quickly discouraged and go elsewhere. This became especially important during the initial outbreak of COVID-19 when card testing increased.
FraudSight has empowered WorthPoint to get in front of fraud, maintain strong ratings with their card company partners and focus on the fast-paced and fast-growing business of connecting art collectors and dealers.