Orders and registrations from fraudulent sources can cost you financial, merchandise and time losses. Service Objects 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.