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As online fraudsters become even more sophisticated, Lovingly is doubling down on advanced anti-fraud technology to provide more safeguards against chargeback disputes. How? At no additional cost to Partner florists, Lovingly has invested in a 3rd party service called Forter.
Details
Forter specializes in fraud protection technology for online retailers, enabling increased accuracy about every digital interaction, powered by the largest network of online retailers including Nordstrom, Priceline, and InstaCart. In fact, for the second year in a row, Forter was named the “Clear Leader” in eCommerce fraud prevention by independent analyst Frost & Sullivan.
How it works
Quietly and instantaneously at order checkout, the extra layer of protection involves increasing real-time decisioning accuracy based on data quantity and transactions. Huh? Essentially, the information that online Gifters enter at checkout gets more thoroughly checked to ensure it's valid and can be trusted. This doesn’t interfere with delivering an easy and enjoyable online ordering experience for authentic purchases. It DOES help catch more fraudsters, so you keep your hard-earned money.
When
Now. Lovingly has already added the Forter technology to ensure safer yet still seamless online experiences.
Why now?
“We’ve been visiting a lot of Partner shops and the top concern owners have expressed is related to revenue loss from credit card chargebacks. At a time when small businesses are already faced with inflation, labor shortages, and supply chain issues, we knew we needed to do even more to help protect their bottom line,” explained Ken Garland, Lovingly co-founder and co-CEO. He added, “Afterall, we’re in this together.”
source: Brighterion AI 2022
What to expect
Reduced chargebacks!
All online orders, including those on your shop website will continue to accept all major credit cards. Due to circumstances beyond Lovingly’s control, however, Discover cards can’t be authorized for Lovingly POS transactions.
Remain vigilant
While Lovingly is going to these extra lengths to protect Partners from risk, don’t let your guard down. No matter what, processing credit cards comes with some risk so it’s important to watch for red flags such as the same customer email address is associated with multiple orders with different recipient names and credit card numbers and the “from” name on the card message is different from the name on the billing address. See more PRO TIPS for spotting and stopping credit card fraud.
While Lovingly uses the most advanced fraud protection possible to thoroughly authenticate credit cards, unfortunately, even this can’t protect retailers from disputes that arise from unreported stolen credit cards. Credit card authorizations confirm that the card hasn’t been reported lost or stolen at the time of purchase, that the card number is valid, and the credit limit hasn’t been exceeded. It can’t guarantee that the person ordering online isn’t using a yet unreported stolen credit card.
Silver lining
With Lovingly Pay, there’s no credit card fee for rejecting orders. If you suspect fraudulent activity, trust your gut.