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FUGU Wants Secure the Payment Process and Its Future

What problem are you trying to solve?

Doing business online is an art of leading your customer down the shop funnel towards clicking the pay button as quickly as possible. Unfortunately, this is where most merchants leave their customers to the mercy of the payment provider. This has been common practice for many years since online payments began as a simple handshake at POS. With the rise of Card Not Present (online payment) Fraud merchants began using data driven prediction tools to avoid fraudulent transactions that can lead to significant business losses in the form of customer churn and unjustified declines.
 
In fact, merchants are forced to allocate efforts post-payment to chasing after customers who abandoned their carts, or were mistakenly declined at the payment phase. In some cases they even deal with missed fraudulent transactions transforming into exhausting disputes.

Fraud scoring at POS is where it all starts but there is much more that can be done post-payment, to save time money and pain. What seemed to be the successful end of the road for a long time now demands much of the merchant’s attention post-payment.

How are you solving that problem?

FUGU Payment Risk Hub, collects, analyzes, and relates all the information relevant to a payment’s risk, offering:

  • Risk Scoring throughout the payment timeline for all payments including recurring revenues, delayed payments and payment installments.
  • Post Payment customer verifications such as Signature, Selfie ID, and Card Scans.
  • Post – Payment transaction monitoring recording the full customer interaction trail which is continuously analyzed for fraud and always on hand to represent in case of a payment dispute. 

We made sure all parts are tightly integrated, providing a smooth self-learning post-payment operation that ensures maximum conversion at minimal cost.

Where do you see your company going in 5 years?

The payment ecosystem is drastically changing as we speak, shifting from a simple info exchange “handshake” at POS to more sophisticated models that imply longer relationships where payment is either split or differed over time.

Merchants shouldering most of the fraud liability along these longer timelines can no longer afford to completely ignore all the information revealed during the payment relationship long after POS. Online sellers need to adopt smart payment monitoring tools like FUGU in order to protect themselves from new forms of fraud and zero tolerance of buyers to friction.

How do people get involved/buy into your vision?

Our holistic approach to payment risk is even more critical when dealing with small and medium businesses, overseeing considerable order volume with limited human resources. They cannot afford or prefer not to invest human capital in completing the post-payment tasks. They also lack an IT department that can integrate/customize several solution providers.
Most importantly they need quick results with minimum upfront investment, high return and flexible engagement model.

For these reasons we have just launched our new and improved app on the Shopify app market. https://lnkd.in/erBw4QK

You can also contact us on [email protected]

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