Transactis, a provider of electronic bill presentment and payment solutions, announced its ClaimsID anti-fraud solution has won ‘Best Overall Product’ and 'Most Innovative Cross Functional Product' at the 2013 Retail Fraud Awards in Leicester.
ClaimsID helps retailers address the threat of ‘digital shoplifting’ or events such as ‘goods lost in transit (GLIT).
Digital shoplifting refers to a fraudulent activity whereby a fraudster, or even an ordinary customer with questionable ethics, falsely reports either that a purchase was never delivered or that it was returned in order to get extra goods or an undeserved refund.
Transactics describes ClaimsID as a, “valuable weapon in the war on fraudsters targeting home shopping and online retailers.” It also gives retailers the knowledge required to expedite claims that are clearly legitimate, thus enabling a brand to provide a positive delivery experience while eliminating the cost of fraudulent claims.
With ClaimsID, catalog retailers and e-commerce firms can reduce the overall cost of handling GLIT claims while improving the customer experience. By leveraging transaction level data from the retailer and matching it to delivery and dispatch data from distribution partner, the company can identify and target GLIT hotspots.
As a result, retailers can initiate extra precautions for suspect claims – such as security questions that might deter dishonest claimants – while fast-tracking those of honest customers.
John Sharman, Transactis’ commercial director, said, “This is a fantastic recognition of great effort by many parts of the company to create a truly ground-breaking anti-fraud tool for our clients. ClaimsID doesn’t just enable a retailer to identify fraud – it helps them to deter it by making it clear that grey areas no longer exist.
Some of the shopping companies and carriers using the system include Shop Direct Group, whose portfolio of brands includes Littlewoods, Very and Isme, and Yodel, the second largest domestic delivery company in the U.K.
Edited by Stefania Viscusi