FUGU is a fraud prevention tool with a unique angle: they follow the purchaser after the purchase to better calculate the risk of fraud.
They work to prevent the need for manual reviews, prevent false positive frauds, and prevent churn from customers.
Their tool works in 4 stages:
- Initial risk profiling at the moment of purchase
- Post-checkout monitoring and Know Your Customer (KYC) automation
- Pre-shipment risk scoring
- Post-delivery chargeback management (for any chargebacks that do actually occur)
FUGU reduces the Declined orders By Merchant (DBM) by 50%, putting more money in your pocket with no risk to you (since they are handling the chargeback). So if they approve an order and it ends up being a fraudulent chargeback, they will cover the lost revenue. And even if you have a chargeback for broken goods or lost product, they will handle the risk and compliance component of fighting that chargeback.
FUGU supports Buy Now Pay Later (BNPL) solutions, recurring billing solutions, micro-payment solutions, and Point of Sales (POS) solutions.
If you’re already using a fraud prevention tool, FUGU will take a look at your numbers, mostly your DBM (Declined orders) and they can sit on top of your existing fraud prevention tool, only handling the orders that are declined by that tool, taking a look at them, and typically reducing your declined orders by 50%, which is more money in your pocket!
FUGU starts with 5 pre-built scenarios, and then you can create simple and complex rules and scenarios to hold, change tax, or send transactions to a manual approval process. For example, if you get a high amount of orders sent to PO Boxes, or an order for an insanely large amount of money (like if your average order value is $100 and you get a transaction for $30,000… This should probably be flagged for manual review).
Their machine learning algorithm has caught all sorts of interesting cases of fraud including shipping to warehouses and other industrial areas that likely mean the buyer is a reseller, or even a unique case where the customer is buying all different sizes of the same pair of jeans, which implies they are reselling and may be trying to use some sort of discount code loophole, or just planning on charging back the order after they receive the product and then slanging your jeans on the street.
What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
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