If online sales are an important part of your business plan, remember that fraudsters have a business plan of their own. On average, 8 percent of online revenue is lost to fraud. That’s $8 out of every $100 sold. As your online business grows, so does the risk of losing to fraud. The risk for fraud is even higher if your website is in the “high risk” eCommerce space. High risk industries include: alcohol, cannabis, crypto, gaming, nicotine and more. The reality is, fraudsters are ...Read more
How to: Win a Chargeback Dispute
45 percent of businesses pay to prevent chargebacks but only 21 percent of those businesses have strategies to win a chargeback dispute. Since chargebacks are a 40 billion dollar problem in eCommerce, doing nothing is a bad idea. The idea that chargebacks are a lost cause is a mistake. Why is this a mistake? Payment processors give businesses a chance to win a chargeback. If the business has verified customer data, they will win chargeback disputes. How to win a chargeback ...Read more
Product Update [Oct 2018]: Faster Performance and New Features
Introducing Token of Trust 3.0 Update Our latest 3.0 update has been automatically rolled out across our cloud-based service. End-users and app builders will notice performance improvements and new available features. Faster loading Reputation Reports and embeddable components. Our reporting tools have been upgraded to deliver faster performance. This includes rendering Reputations Reports and loading embeddable components like our Account Connector, Verified ...Read more
Agents of Change: Rethinking the Future of Finance
Darrin Edelman, Co-Founder of Token of Trust, speaks with LinkedIn and Capgemini about the future of trust in finance, collaboration, and his company’s origin story. Can you tell us about Token of Trust? Token of Trust helps to build trust between people, in particular, in online contexts. We started company because somebody tried to rip me off while conducting business online. After reflecting on the the incident with my co-founders-to-be — we couldn’t believe that there was no effective ...Read more
ID Doc Verification: Easier ID Verification + Better Coverage
We launched online activity verification back in 2016 and have received a lot of requests for adding Real World Verification since then. When we began offering Real World Verification in the United States last year, it was our first step toward offering a comprehensive identity check that spanned an end user’s online and offline activities. Since then, international sites and apps using Token of Trust have desired the same high quality coverage we are able to offer in the United States. Our ...Read more
4 Steps to Improve Protection of Consumer Data
We’re in the Data Breach Age and it’s more important than ever to protect your customers’ data. Sure, protecting people’s data has ALWAYS been the right thing to do but the proliferation of data breaches makes it obvious that the incumbents were caught with their pants down. Whether you’re starting up a new business or trying to tighten your existing practices here are some approaches to make sure the same thing doesn’t happen to you. -- 1. Don’t store it. This is a simple but ...Read more
Getting Ahead of the Shifting Data Privacy Landscape
Privacy is an ideal that has gradually eroded as we navigate through the information era – always consuming more data on everything and everyone. According to Gartner, U.S. consumer data is big business with over 5,000 data brokers participating in a $200 billion industry. That doesn’t even account for the dark web market or the daily trading of data to access games and other freemium services. Simply put, data on U.S. citizens is plentiful for all to consume and has been stored in bits and ...Read more
5-Ways Businesses Can Prevent Fraudulent Accounts
If so many real identities have been compromised how can I stop fraudsters? How can you ensure that someone is who they say they are BEFORE they complete fraudulent transactions or steal from your loyal customers? At Token of Trust we’re helping our customers do this every day. Here are 5 things you can do to stop fraudsters in their tracks: Remember: no single data point is reliable. First and foremost - it’s important not to trust any single source of identity data. A fraudulent ...Read more
Stolen Identities are Cheaper and More Accessible Than Ever
Sensitive identity data is everywhere. For the right price, fraudsters can use stolen identities to with just about any online service. How are modern day applications and services supposed to protect themselves and their members from fraud when all that data is just floating out there ready to be used!? The most recent data breach by Equifax of 143 Million U.S. Citizen identities is only the latest in a long string of leaks, but it is one of the scarier ones because it includes information ...Read more
How Airbnb Had Me Cleaning Up Vomit & Hangin’ With ISIS
Need a ride to the airport within 10 minutes because your ride bailed? There’s an app for that. Need to satisfy your 2 AM chocolate craving in under an hour? There’s an app for that. Want to use a complete stranger’s fabulous, ocean-front villa for the weekend for less than what you would pay at a hotel? There’s an app for that too. But two travelers learned the hard way that having this type of power at your fingertips can come with a hefty price. From Euro-trip to ISIS Hotbed Nick is the ...Read more