Reducing fraud risk, lowering chargebacks, and optimising payments
Back in 2014, Credorax worked indirectly with Venntro Media Group, the fast-growing company behind the award-winning SaaS White Label Dating platform that enables media brands and marketeers to power their own, fully-branded online dating sites.
Providing the full package – software, database, hosting, payment processing, chargeback management, customer care, moderation, CRM, reporting, account management, security and more – Venntro has literally left no stone unturned with regards to its offering. Today, Venntro’s customers are their customers precisely due to this level of unprecedented end-to-end service and solution.
As our relationship strengthened, both parties understood that it made more sense to work directly with each other. This opened up a mutual opportunity for growth, enabling Credorax to deep dive into Venntro’s processing and provide expert advice that would take its processing to a whole new level in terms of optimisation, efficiency and costs.
Fraud: A fatal attraction
Any merchant offering online dating services is automatically deemed high risk due to higher-than-average numbers of chargebacks and other security concerns. However, at Credorax we knew we could help Venntro reduce fraud risk successfully, with minimum fuss.
Reducing Fraud Risks
Our 3D Secure solution was able to reduce fraud risk while at the same time helping Venntro to improve conversions, optimise the checkout process and stay protected from fraudulent chargebacks.
Next, we introduced our geo-blocking solution, designed to stop credit cards registered in other countries being used on Venntro sites. A credit card registered in the US can no longer be used on a UK dating site on Venntro’s platforms, to help protect the business against fraudsters using stolen payment details or attempting to create fake profiles in foreign markets.
Ross Williams, Founder and CEO of Venntro commented:
“All of this, along with the insight and analysis that Credorax provides, has helped us to significantly reduce our chargeback rates and enabled us to become one of the leaders in our industry in terms of optimised payments and minimal chargebacks.”
A perfect partnership
“Since working directly with Credorax, Venntro is now able to process in seven countries around the world, offer next-day settlement terms, and offer top-quality fraud-risk prevention tools.”
Smart Guard, Credorax’s complete protection toolkit, provides Venntro with everything from basic checks (AVS, CVV2) to advanced machine learning technology and rule configuration, so that the online dating company can choose the exact level of protection and control to best fit its unique business risks and needs.
While delighted with the capabilities of the product, what Ross really found to be of immense value was the service offered by Credorax’s account management team:
“Credorax is always available to us. That, in combination with the online payments portal they provide, means that we can monitor payments in real time, and if we have any issues, get straight in touch with our assigned account manager on the fly to solve problems before they get out of hand. Immediate service like this is priceless.”
Creativity, compliance and Credorax for a ‘very, very happy’ partnership
Regarding our hosted payments page, Ross commented:
“As the founder and owner of the business, I love the fact that Credorax provides us with a really simple, easy-to-use form, so that I don’t need to worry about PCI compliance.”
Overall, Ross said he’d sum up his experience with Credorax as: “Supportive, flexible and adaptable.
“We’ve worked with a number of payment processors over the years and none of them have even come close to providing the level of service that we’ve experienced with Credorax. I would have no hesitation in recommending Credorax to anyone. We’re very, very happy.”
To find out how Credorax can help optimise your payments, Get in touch at: email@example.com.