Orders and registrations from fraudulent sources can cost you financial, merchandise and time losses. Far Point can help you weed out fraud before it strikes your business.
More than 18% of online registrations will be incomplete or fraudulent, potentially causing massive losses in inventory, resources and money. This includes intentional fraud ranging from fake delivery addresses to credit cards, as well as inaccurate data. According to a 2016 survey by Lexis Nexis, on average, US merchants reported an 8% increase over 2015 in the cost per dollar of fraud losses, from $2.23 to $2.40. This means that for every dollar of losses, merchants are losing $2.40 based on chargebacks, fees and merchandise replacement.
Far Point can help you significantly reduce fraudulent transactions by easily integrating tools for:
Email Validation
Our Email Validation performs over 50 email address verification tests and determines authenticity, accuracy, and deliverability. The service also auto-corrects common domain misspellings and syntax errors, and removes extraneous characters.
BIN Validation
Fight fraud and reduce chargebacks. Bank Identification Number (BIN) Validation service helps fight fraud by identifying if the card is gift, prepaid, credit, charge or debit. The BIN number will also identify the country of origin for the card, providing you with insight as to the validity of the transaction.
IP Validation
Detect mismatches between a customer’s device location and their physical address. IP Address Validation identifies the location of an IP address from any location in the world. Businesses can cross-reference the location of a visitor’s IP address against other data points, including billing and shipping addresses, to flag possible fraudulent transactions.
Address Validation
Save significant time and money by improving mail delivery rates. Address Validation is USPS CASS Certified® and instantly validates, parses, corrects and appends contact address data. Our global service verifies and corrects international mailing addresses to the unique requirements of each country’s postal address formats and cultural idiosyncrasies.
Order Validation
Stop fraud as it is happening and save the hassle of chargebacks, lost merchandise and dealing with bogus orders. Order Validation performs multi-function verifications including address validation, BIN validation, reverse phone lookup, email validation, and IP validation.