I am the owner of the feelgood brand for pregnant women ZOYOKO.com that offers designer maternity wear of the highest quality from a large variety of suppliers. We use Atos Worldline and Ogone for our online payments but in all fairness, they suck bigtime for vendors because they only protect the customer. In November we had a good sale for almost 900 EUR. As the credit card was Japanese and used in Greece, we waited for shipping the goods until the amount was registered in our bank account. We shipped the same day and a couple of days later the goods were delivered at the address requested.
In december, we got the request from ATOS to provide them with proof that we authorised the fraudulent payment and requested the payment back. We acted in good faith (we have regularly expats buying) and as we pay Ogone a monthly fee of 10 EUR + 0.3% of the total revenue on top of the normal fees for fraude detection. I was really upset when they told us WE should configure the module ourselves and that it is no guarantee it will detect fraude. It can only assume there is a higher risk of fraud involved… When they told us we should contact every customer whereby the ‘lights’ are orange (>75% of the cases…) and ask them to pay by bank transfer, I felt deceived. So not only do they not take any responsibility, they just make you pay without asking or delivering a service worth the price.
From my frustration I got the following idea. A Mollom-like fraude detection service and insurance in case it goes wrong.
What’s a Mollom like service, i hear you think? Well, it uses the wisdom of the crowds not only to detect but prevent misuse of spam comments on (blog/)websites. By offering it for free to small sites, it gets the adoption it requires to grow its knowledge base. Also, it has a build-in robot detection step 2 authentication in case of doubt wherein real people can enter a captcha to proof they’re human.
So the NoMoreFraud pitch is the following;
NoMoreFraud facilitates and guarantees payments on websites while blocking fraude. The service is in direct contact with Card Stop services around the world, it automatically blocks any payment instantly when it knows a credit or bank card is used falsely. Basically it aggregates all blocked bank and credit cards in the world instantly, so both vendors as well as customers are protected better against fraudulent use of stolen or lost cards.
The service works in close collaboration with authorities around the world to catch the thieves who (try to) use the credit card.
On top of pay per use fee (0,1% of the transaction cost), you can get extra insurance in different formulas (1 EUR per month for up to 1.000 EUR value, 10 EUR per month for up to 10.000 EUR value, …) but normally, over time this insurance should become obsolete.