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Below is our recent interview with Rafael Lourenco, EVP, at ClearSale:
Q: What kind of solution do you provide to your clients?
A: ClearSale is an international organization that pioneers fraud protection solutions for e-commerce merchants of all sizes. ClearSale has over 16 years of experience in preventing fraudulent chargebacks and false declines, enabling the more than 3000 merchants we serve to accept more orders and increase revenue. ClearSale pioneered the “guarantee” model for chargebacks, and it is also the only company to offer both options to merchants: with and without a chargeback guarantee. It has always been important to us to offer flexibility, so companies that would prefer not to have that 100% chargeback guarantee can still receive our advanced protection services.
With focused expertise, ClearSale has achieved scaled knowledge of the fraud protection ecosystem that makes up the foundation for its comprehensive business solution to deliver results that matter. By receiving a straightforward status for every order and a decisive recommendation, merchants have the power to manage performance and focus on their core business.
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Q: How does fraud work in e-commerce?
A: E-commerce fraud occurs when a fraudster visits a merchant’s website and attempts to make a purchase or complete a transaction using fraudulent means. There are many different methods that fraudsters use to attempt these transactions, if they are successful it means that the merchant was not paid for the sale that was made. Some of the main types of e-commerce fraud are identity theft, friendly fraud, phishing, and man-in-the middle attacks, but there are many different ways that fraudsters have found to get around common fraud prevention technology.
Online fraud is becoming more popular these days. As the EMV chip-enabled cards becomes a common practice in countries worldwide, stealing physical credit card information is getting harder. So fraudsters are flocking to online transactional fraud, where e-commerce shopping is rising rapidly and fraud protection can sometimes be minimal. With the rise of new technologies, payment methods, and data processing systems, online store owners are unknowingly opening their doors for new forms of fraud every day. Merchants may not even have an idea of how much fraud is affecting their bottom line.
Q: Tell us more about your Fraud Protection Solution. How does it work?
A: Our fraud protection is a comprehensive, fully outsourced solution that integrates into most e-commerce platforms. The proprietary technology is compatible with many widely-used gateways, shopping carts, order management systems, payment processors and acquirers, allowing merchants to connect with minimal development time and effort needed.
Utilizing the most cutting edge and advanced fraud prevention tools, every order is thoroughly screened for fraud risk. When an order comes in, our advanced technology uses machine learning and rules-based reviews, and outputs whether there is a risk or not. If there is a potential risk, it is sent to our in-house team of seasoned fraud analysts. No order is ever rejected outright without the review of an analyst to determine actual risk.
This is different from most fraud prevention solutions, as we give the benefit of the doubt to every suspect order and navigate the nuances of human error so that transactions are never incorrectly denied outright, and your revenue is never rejected without reason. This process is complemented by custom rules and our experience with umpteen data points and sources, in order to guarantee that good customers are never inconvenienced.
After the thorough machine learning process, rules-based review and manual review, ClearSale provides merchants with a straightforward, optimized decision: to accept or reject each order, eliminating the need for any other fraud tool or internal headcount.
Q: Why is ClearSale the best choice for merchants that sell online?
A: First and foremost, ClearSale has the dependability and knowledge that merchants need to trust that their fraud will be handled. With over 16 years of experience in some of the most fraud-ridden markets, ClearSale has been at the forefront of the battle against CNP fraud. With all of this experienced and focused knowledge, ClearSale has developed its proprietary solution that utilizes the most leading-edge machine learning technology and combines it with one of the largest in-house teams of seasoned fraud analysts. We specialize in fully outsourced fraud management for enterprise-level merchants.
Not only do we have the expertise, we have the passion for this business. Our agility, credibility and transparency are the foundational blocks that our reputation is built on. We focus on seeing what our merchants see, putting ourselves in their shoes and taking on the dedication to their business to fight the fraud that hurts them the most. This allows us to combine our analytical and fraud management skills with their business drivers to achieve success.
Stopping card-not-present fraud is not the biggest challenge. Delivering the highest accuracy in approval rates is what really matters to our merchants. ClearSale offers the highest approval rates and the lowest false positive rates in the industry. False declines cost merchants more than chargebacks: 32% of customers experiencing a false decline choose not to shop with that merchant again (©2015 GA Javelin LLC)
With a 99% retention rate, we think that we’ve proven that our process works. But, you don’t have to take our word for it, you can see the results of our focused expertise through real-life stories listed in our Trustpilot reviews and our Gartner reviews.
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Q: What are your plans for the future?
A: We are always looking forward to the future of online shopping – what we see is that customers are engaging in more channels as part of their shopping journeys. They don’t care about loyalty to one channel any longer, they care about experiences, about shopping with ease and simplicity.
Because of this, retailers must respond accordingly. ClearSale’s mission has always been to stop fraud without affecting the customer experience, so we have had to evolve to meet the needs of the ever-changing customer experience. Our plan for the future is to keep our focus on the intricacies of fraud prevention while staying on top of the latest market trends, such as new payment methods, new sales channels, cross-channel sales, etc. We feel that agile businesses, and the ones that are ultimately successful, will understand the importance of eliminating dangerous distractions and focusing on what matters most for them.
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