#Israel #Haifa #ID-BOUND #TRIO Payments #e-commerce fraud

ID-BOUND Introduces TRIO Payments Gateway

In a notable move for the e-commerce sector, ID-BOUND recently unveiled its groundbreaking TRIO Payments E-Commerce Hosted Gateway. This revolutionary platform has been designed with the primary goal of eradicating e-commerce fraud, which has inflicted substantial losses on both buyers and sellers alike. Launched officially at ID-BOUND's news page, this platform represents a crucial step forward in securing the digital retail marketplace.

The Gambling Crisis of E-Commerce Fraud

E-commerce fraud is escalating rapidly, with reports indicating that consumers lost over $12.5 billion in 2024 alone, marking a 25% rise from the previous year. Merchants are also not spared, as they are likely to face staggering losses reaching $362 billion globally due to online payment fraud between 2023 and 2028. The issue is compounded further by the hidden costs associated with fraud, where for every $100 lost, an additional $207 is spent rectifying these fraud-related issues. Furthermore, 47% of merchants estimate that around 5% of genuine transactions are wrongly declined, culminating in an estimated annual revenue loss of approximately $50 billion.

How TRIO Payments Gateway Redefines E-Commerce

The proactive approach of ID-BOUND’s TRIO Payments Gateway primarily targets the three major contributors to e-commerce revenue losses: chargeback fraud, erroneous transaction declines, and fraudulent customer reviews. By embedding fraud prevention mechanisms directly into the payment process, this platform assures non-repudiability, thereby effectively nullifying the excesses of 'friendly fraud' which represents over 90% of e-commerce fraud.

1. Combating Chargeback Fraud

With an integrated fraud prevention system, chargeback fraud is minimized as the technology guarantees that all transactions are verifiable, virtually eliminating the financial burden associated with disputes over refunds.

2. Tackling False Declines

Current fraud detection methodologies often lead to legitimate transactions being incorrectly flagged, resulting in diminished sales and customer dissatisfaction. Data indicates that about half of merchants believe almost 5% of authentic orders are wrongfully declined. The TRIO Payments Gateway drastically reduces the incidence of these false positives, empowering merchants to convert potential losses into sales opportunities.

3. Validating Customer Reviews

Another significant issue in the digital marketplace concerns the authenticity of customer reviews. TRIO addresses this by correlating online reputation with actual sales, effectively ensuring that fraudulent reviews are ousted. This process has a considerable impact since approximately 79% of consumers regard online reviews as influential as personal recommendations, often boosting sales by an average of 18% when genuine reviews correlate with real sales.

A Shift Towards Trust and Transparency

Dr. Eli Talmor, Co-Founder of ID-BOUND, emphasized the need for a more secure e-commerce ecosystem. He stated, "For too long, e-commerce has been built on a foundation of shaky trust, where buyers and sellers bear unnecessary risk. Our solution has effectively recovered three crucial sources of lost revenue."

With the introduction of the TRIO Payments Gateway, the prospects for e-commerce are set to change dramatically. The platform aims to build a comprehensive framework for fraud-free e-commerce, moving beyond mere incremental improvements towards a more trustworthy marketplace. The public can witness the platform's potential firsthand through this link.

About ID-BOUND

ID-BOUND stands at the forefront of the technology sector dedicated to securing the future of digital commerce. By implementing non-repudiable transaction technology, the company is committed not only to mitigating the rampant costs of e-commerce fraud but also in enhancing consumer trust. This dedication drives unprecedented revenue growth for businesses in the online retail space. Join ID-BOUND in this pioneering development by exploring the TRIO Payments Hosted Gateway at their main site.

For more media inquiries, contact Dr. Eli Talmor at +972545313810 or via email.

The evolution of online payments is upon us, ushering in a new era of security and trust in e-commerce.