Green Sheet

Product: SellitSAFE fraud protection service
Company: SellitSAFE.com

Everyone wants the Internet to be a safe place for shopping. But face it. ISOs and merchant level salespeople are focused on making the Internet a safe place for selling.

E-commerce has grown at breakneck speed, but two phenomena have plagued online merchants and traditional mail, phone, catalog and direct marketing enterprises:

• Electronic shoplifting, where consumers falsely claim that goods or services charged to them were never delivered or never even ordered, and
• Identity theft, where criminals steal sensitive customer data and use the information to conduct fraudulent electronic transactions.

Chargebacks (transactions listed on bankcard statements that customers deem invalid) are more of an annoyance to cardholders than a threat; their liability is a pittance in these situations. And issuing banks tend to favor cardholders when disputes arise. That leaves merchants suffering losses that can threaten their very existence. This is particularly true of mom-and-pop e-tailers and retailers.

Concerned about this growing threat, SellitSAFE.com, an Internet security monitoring and notification company, began scouring cyberspace back in 2000 to locate and identify compromised credit card data. Since then, the company has supplied information to Visa U.S.A., the Secret Service, the FBI and other government agencies.

Now SellitSAFE is making these data available to direct marketers and online merchants so they can intercept potentially fraudulent transactions before they wreak havoc. At a cost of $10 per month plus $0.10 per transaction, this could be an affordable solution for merchants who want to reduce chargebacks.

SellitSAFE provides a subscription service that is compatible with all computer operating systems. It monitors its clients' business dealings, collects data from a variety of sources, continuously searches the Internet for information on specific bankcards that are compromised and tags questionable transactions before they are approved.

Also, SellitSAFE offers a 30-day trial, so merchants can see it in action before signing on the dotted line.

SellitSAFE.com
800-735-5487
www.sellitsafe.com