WooCommerce today launched a very interesting plugin designed to help store owners fight fraudulent transactions on their store.
A recent report from Cybersource, a unit of Visa estimated the fraud cost for online retailers to be $3.5 billion or 0.9% of online revenue in 2012.
An online retailer loses, on average, $9,000 to fraud for every $1 million in revenue – a number that really adds up as your store grows.
This new WooCommerce Anti-Fraud plugin is designed to recognize fraudulent transactions and catch them as they occur by scanning and displaying a score for each transaction made, based on a set of advanced scoring rules.
So for example if the customer’s IP address does not match their billing country this increases the risk and therefore the score.
Once the score goes over a tipping point you can automatically cancel, hold or get a notification regarding the suspect transaction.
The Anti Fraud plugin is $79 from WooCommerce and you can get more information about it here.
Remember you can purchase our WooCommerce theme Captiva today over on ThemeForest. If you’re a WooCommerce newbie we also provide a free installation service to get you up and running with your own WordPress powered online shop in no time!