Case Studies | FutureShop.ca | Sporg

CASE HIGHLIGHTS

Client / Merchant Profile

With more than 100 stores from coast to coast, Future Shop is Canada's largest and fastest-growing national retailer and e-tailer of consumer electronic products.

FutureShop.ca, is one of Canada's premiere e-commerce destinations.

Solution Providers

• Beanstream
• Equifax Canada Inc.

Case Study Target Market

On-line retailers.

Challenge

The client has significantly grown their on-line sales over the last few years and needed to apply additional tools to combat potential on-line fraud and to reduce address input errors.

Solutions Provided

• QuickMatch
• SafeScan
• SafeScanID
• Financial reporting

Results

The client now has three powerful and integrated fraud tools as part of their on-line purchasing process resulting in significantly lower fraudulent transactions and decreased costly chargebacks. The authentication process also reduces the likelihood of customer data entry errors when providing shipping information.

THE PROBLEM

There is a greater chance of fraud when a card imprint and a cardholder signature are absent. E-commerce merchants can be held financially responsible for a fraudulent transaction, even if the issuer has approved it.

SOLUTION

Beanstream, in conjunction with Equifax, provided Future Shop with QuickMatch, a suite of fraud prevention tools to help reduce losses due to fraudulent credit card use and identity theft.

QuickMatch, verifies the identity and address of consumers who make credit card purchases through the Internet or by telephone. The service cross-references the credit card number against consumer data stored at Equifax.

Future Shop also requested two other Beanstream products, SafeScan and SafeScanID to provide additional layers of fraud detection. SafeScan, detects fraud by spotting misuse or irregularities associated with names, addresses, SINs and telephone numbers. SafeScanID, checks the applicant's birth date, name, address and telephone number against the listed telephone number in a separate information database.

Integration to the Beanstream host system was completed using our SOAP interface. Beanstream's fraud prevention tools were transparently integrated into FutureShop's client purchasing process adding little or no overhead to their clients transactions.

Future Shop can now quickly identify potential risks and reduce the likelihood of losses due to fraud.

CONCLUSION

By using Beanstream's fraud prevention tools, Future Shop achieved the following benefits:

• Reduced on-line fraud risk and its associated costs: chargeback fees, merchandise costs, and recovery efforts.
• Reduced time and cost of manual investigations.
• Improved customer satisfaction by approving transactions quickly.
• Quick detection of data entry errors eliminating costly and time consuming reworks.
• Single provider with a simple, cost effective price structure - the Beanstream advantage.