As numerous studies show, the volume and revenues of e-commerce are constantly increasing globally. And with it, the level of fraud being exploited by unscrupulous customers is growing which has prompted merchants to increasingly use secure ecommerce anti-fraud systems to protect themselves. Starting an LLC in a state that is brimming with competition like Texas requires a lot of work and dedication. The last thing an entrepreneur needs to be concerned with is the stress of legal documentation and communication, which is why electing a good registered agent is the best choice. Learn more about registered agents in Texas, and what to look out for when choosing the best one.
Fraud protection is becoming more and more necessary
While the level of fraud itself is nothing new, entrepreneurs are trying to protect themselves using anti-fraud systems and their businesses from fraudulent activities. One such way is with a solution from Ethoca company. Ethoca provides services that prevent chargebacks caused by fraudulent transactions. The solution is based on a network, where a user who has an account can get information about their client or merchant. This approach helps merchants avoid fraudulent chargebacks and keep not only their money safe but also their reputation.
The fact is that for frequent chargebacks merchant pays the money not only for acquiring services but can pay a fine to the bank. For example in Europe, this minimum amount reaches 25 EUR, and in the USA – up to 30 USD and this is not the limit.
Yes, of course, users may have good reasons for demanding money back, such as fraud or substandard goods. However, most unscrupulous shoppers want to profit at the expense of others or believe that chargeback is a more effective consumer protection tool than dialogue with the seller. However, often this is a negative experience for both sides.
Whether you're launching an online store now, have been in sales for a long time, or even providing services, chargebacks are something that can cause losses and ruin a company's reputation. And a secure ecommerce anti-fraud system for protection is required.
How to become part of the Ethoca security system?
Since it is network-based, it's easy to join. A merchant can join via an open a https://maxpay.com/ merchant account or joining the Ethoca network. And from that moment, the user can get all the information they need to protect their money and reputation.
What information is provided by the Secure Ecommerce Fraud network
The company provides the account holders and financial institution call center employees with detailed information about merchants and purchases, including information related to well-known brands, information about the place and time of purchase, and, of course, complete documentation. This approach helps significantly reduce credit card chargeback disputes caused by confusing transactions.