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Stripe fraud prevention is not sophistocated at all. I have been trying different fraud prevention providers and all of them are lame. They check if the ip of t

by yani 8y ago

Stripe fraud prevention is not sophistocated at all. I have been trying different fraud prevention providers and all of them are lame. They check if the ip of the buyer matches the billing location of the card and if not they will not accept the order. So far, the best method I have diwcovered is to verify the order by phone. The phone number provides me with extra knowledge about my customer. I can match their buying ip address with it. I can talk to the customer in their language to verify they are who they say they are. It is not bulletproof but I have yet to see fraudster go to that extend. When you learn enough about your customers, you should be able to roll out your own fraud prevention solition because generic ones are broken. Here is a recent report about what works and what does not in the generic fraud prevention tools: https://www.braintreepayments.com/resources/kounts-mobile-payments-and-fraud-2017-report https://www.braintreepayments.com/resources/kounts-mobile-pa...

bpicolo 8y ago
Those graphs are entirely survey-based subjective, there's no metrics at all, and it's also an advertisement for Braintree's fraud service
- yani 8y ago
  Look at the original report that the graphs are based on. I think that's where the useful data is. Braintree's fraud prevention is poor and based on generic metrics. One of my businesses had 32% chargebacks with their service.
  - bpicolo 8y ago
    30% is an order of magnitude higher than the typical industry fraud-attempt rate. If 30% of orders were charged back you probably had other issues? That's pretty nuts
  - pkaye 8y ago
    Curious what kind of products do you sell?
    - yani 8y ago
      Software for backing up sites.
Kalium 8y ago
> It is not bulletproof but I have yet to see fraudster go to that extend. There's a comment upthread in which someone describes dealing with a fraud ring that uses a call center to defeat exactly this approach. Anecdotally, I know shop owners who have also dealt with would-be fraudsters who will happily talk to them over the phone. Which is not to say that your experience is anything less than completely valid! It just might not encompass the whole of the range of possible valid experiences.
Cyph0n 8y ago
> I have yet to see fraudster go to that extend. You must be in a field with relatively low-volume/low-effort fraud. I knew of many fraudsters who used to go through phone verification to buy game currency with stolen CCs. This was back in 2011, mind you.

by yani 8y ago

bpicolo 8y ago

Those graphs are entirely survey-based subjective, there's no metrics at all, and it's also an advertisement for Braintree's fraud service

yani 8y ago
Look at the original report that the graphs are based on. I think that's where the useful data is. Braintree's fraud prevention is poor and based on generic metrics. One of my businesses had 32% chargebacks with their service.
- bpicolo 8y ago
  30% is an order of magnitude higher than the typical industry fraud-attempt rate. If 30% of orders were charged back you probably had other issues? That's pretty nuts
- pkaye 8y ago
  Curious what kind of products do you sell?
  - yani 8y ago
    Software for backing up sites.

Kalium 8y ago

> It is not bulletproof but I have yet to see fraudster go to that extend. There's a comment upthread in which someone describes dealing with a fraud ring that uses a call center to defeat exactly this approach. Anecdotally, I know shop owners who have also dealt with would-be fraudsters who will happily talk to them over the phone. Which is not to say that your experience is anything less than completely valid! It just might not encompass the whole of the range of possible valid experiences.

Cyph0n 8y ago

> I have yet to see fraudster go to that extend. You must be in a field with relatively low-volume/low-effort fraud. I knew of many fraudsters who used to go through phone verification to buy game currency with stolen CCs. This was back in 2011, mind you.