Friday, November 14, 2008
Fight Fraud With Vindicia
These folks are smart, hardworking and know what they are doing. If you want to reduce fraud and chargebacks, Vindicia is a great resource. Call them up and tell them PG sent you. Please note, none of the PaymentGuys or Girl are in any way affiliated or receive anything for this referral. This is a gratuitous freebie tip for all our Dear Readers. From their site "Billing and Fraud Management for Virtual Worlds":
Virtual worlds are rapidly becoming online destinations where individuals from all over the globe go to express themselves and interact with one another. Virtual world providers have focused on creating an immersive experience and a robust online community, however the monetization of these worlds is still in the early stages. As companies build out their vision, billing is the last thing they want their customers to worry about. Since the business models around virtual worlds are quickly evolving, it is critical for companies to have a billing system that is powerful yet flexible. Vindicia’s success in the online gaming and dating markets gives us a unique understanding of how users interact in online communities, and which business models and targeted promotions are best suited to building a robust online community while maximizing revenues. Virtual worlds are particularly vulnerable to fraudulent activity such as stolen credit cards (and related chargebacks), money laundering via digital goods, in-world currency transactions and friendly fraud chargebacks. Some experts estimate in high fraud risk areas, online merchants may be losing up to 10% of revenues due to chargebacks alone. Any comprehensive solution must provide tools to control fraud management. Vindicia supports the most popular online business models such as digital goods, recurring billing and token management, yet remains flexible to allow for experimentation and innovative new models like granting credit for user generated content. Vindicia is also inherently global and supports payments and communication in nearly any currency or language. With Vindicia, virtual world creators can optimize their business to monetize effectively, provide a flawless experience and take control of fraudulent activities to let users all across the globe keep exploring and interacting.