Selling Online

Posted by Trustev editor on September 19, 2013

One of the greatest freedoms that the advent of the internet has brought to the is the ability for people to buy and sell online. Its opened up a world of infinite choice for the shopper and infinite opportunity for the seller. It's encouraged many small operators to increase their available customer base through opening an online presence, for others it's allowed them supplement their income through a small home based business.

The environment and challenges in selling online is exactly the same as those offline. You have small, niche based sellers and you have gigantic supermalls. Each has its own issues and its own unique challenges to deal with. For some their online selling is a bit like a stand at farmer's market, for others they've gone all in and mortgaged their house on it. But no matter which type of business you are just like a business in the offline world, one harsh truth of reality eventually reality sets in; some people steal.

In the real world; that first time someone shoplifts something from your store and gets away with it, you're annoyed but you let it pass, you write off the loss as a 'cost of doing business' and move on. But then it starts to happens again and again as the local pickpockets realise that you're an easy target and the losses start to mount up. Suddenly the losses are real and substantial and you have no choice but to introduce radical security to prevent future losses. Of course this affects your existing customers in multiple ways as they feel uncomfortable with the new hoops you have to make them jump through in the name of 'security'.

The exact same thing happens online.

Many small online businesses in particular don't realise their exposure to fraud. It's sadly only when the incident occurs that they suddenly realise how expensive its going to be. Their lack of experience or understanding of the complicated process by which money is transferred from their customer's account to their bank account can be a real challenge when they check their balance and discover their bank has already reclaimed money from their a/c. You see the same system that protects you and me as consumers is incredibly unforgiving to these online merchants, large or small who get hit with the entire burden of fraud - lost goods, lost revenue, fees and penalties and often they're still left in a daze wondering; what just happened?

Going back to our offline store example, imagine one small change; imagine if you knew everyone who walked in the front door of your shop, imagine if you could positively identify them. Think of the peace of mind that would bring and how much easier doing business would be. You'd spot the shoplifters before they had a chance to do anything, without inconveniencing your customers.

Simply put, that's Trustev, realtime online identity verification that helps you know exactly who your customer is before you decide whether or not to do business with them. We're here to make life a little bit easier for merchants and help them hang on to more of their hard earned money.

Drop us a line at sales@trustev.com if we can help you.

Topics: fraud, Identity