Every transaction that is not authorized by your customer is generally referred to Fraudulent. And, it can result in a chargeback to online merchants and eventually a loss of money. In today’s eCommerce trade, security and transaction frauds always remain the top concern for the retailers. According to many marketers,
“There was a growth of 16% in eCommerce fraudsin the year 2017 as compared to 2016.”
Further, Javelin Strategy & Research explored that by 2020 online payment volume shall reach as much as $646 billion dollars in total witha hike of more than 7.5% in fraud costs to the merchantsof their annual profits.”
Although the rate of frauds and other malicious activities is high for eCommerce, you don’t need to compromise with this concept and accept it in your online trade cost. By opting for a safe eCommerce platform and putting the right apps in place, you can actually reduce the chances of being attacked by fraudulent activities.
Shopify development services are among the highly trusted and popular eCommerce solutions that offer remarkably advanced trade experience. Additionally, Shopify eCommerce has always had anti-fraud measures in place for every kind of industry. It allows you to protect your online business from time-consuming, costly and other fraudulent activities on your store.
There are multiple Shopify apps (either free or premium) available in the app store that can do a wonderful job of filtering out the fraudulent activities on your web store. Having to mention a few, you can consider the following:
This Shopify app allows you to run your online business easily while being safe from various frauds. NoFraud offers fraud prevention via a real-time virtual identity verification for each transaction with a use of advanced fraud detection technology. Its main features include the following:
fully automated solution
no need of manual review of merchant
offers Live customer support
cost-effective with no integration fee
IP Geolocation with device fingerprinting
Blacklists and social media validation
Intelligent monitoring and many more.
Overall, NoFraud eliminates customer friction by providing you with instant decisions. It offers you cost-effective chargeback protection as well that saves you from additional costs of maintaining an in-house solution for frauds prevention.
2. FraudLabs Pro Fraud Prevention
FraudLabs Pro Fraud Prevention app is a flexible module to facilitate merchants to protect their Shopify store from fraudsters while screening every single order transaction for fraud patterns. It comes with a trustworthy and an easy setup.
Free of cost
IP address geolocation & proxy validation
Offers you blacklist validation
Email notification for all fraud orders
This Shopify App does not include upfront credit card information, hidden cost, or commitment etc.
3. Fraud and Chargeback Protection
This Shopify app helps you to fight frauds and further, prevent chargebacks. It reviews every detail linked to order placed like IP addresses, mailing address, and phone numbers etc. to help you in analyzing order’s genuineness.
Offers zero fraud liability
Completely automate your back office
Easy integration and more.
It comes with a free 14-day trial.
Apart from these above-mentioned Shopify Apps, Shopify also offers a built-in fraud analysis benefitted with machine learning algorithms. It helps you to find suspicious orders easily and further, you can look into a suspicious order in multiple ways. There are a no. of talented Shopify developers available to hire who can help you in setting up a highly secured web store as per your convenience. Also, there are leading companies as well who can offer you free trials prior to hiring for a complete project.