Leading Online Loyalty Program Provider BigCrumbs.com Takes a Big Bite out of Fraud with ThreatMetrix
Posted April 21, 2010
Benefits Include Ensuring a Positive Customer Experience, Protecting Their Merchant Partners and Maintaining the Integrity of Their Loyalty Program
LOS ALTOS, CA. – April 22, 2010 –ThreatMetrix™, a fast growing provider of fraud detection solutions that do not require personally identifiable information (PII), today announced that BigCrumbs.com, a leading free online loyalty program provider, has selected ThreatMetrix to control online fraud and abuse.
When a customer visits BigCrumbs.com before shopping online, and clicks their links to reach retailers, BigCrumbs.com is paid a commission by the merchants. BigCrumbs.com, in turn, passes this on to the customer in the form of cash back payments. The Atlanta-based company offers it free online loyalty program for popular online retailers including Target, Walmart, Best Buy, Gap, Nordstrom and HP. All totaled, BigCrumbs.com serves over 570 online retail partners and nearly 7,900 member stores, generating millions of dollars in revenue every month.
“With just one click, our program is designed to be easy to use by customers,” said Vince Martin, CEO, BigCrumbs.com. “But it’s that same ease of use that makes us susceptible to fraudsters who attempt to abuse our program with fraudulent credit cards or simulated online transactions. We could implement additional layers of costly and time-consuming protection that would require our members to do more to earn their rewards, but that would detract from an otherwise positive and frictionless experience that our members have come to expect.”
“We were seeing a lot of instances of fraudsters using stolen credit cards or exploiting our merchant partners who did not have any real-time fraud protection in place which resulted in cash losses, lots of manual intervention and frequent conversations with merchants,” continued Martin.
Today, using ThreatMetrix, BigCrumbs.com goes far beyond simple IP geolocation – which can give false positives – and is able to pierce the proxy to determine the true device identity and country of origination. “ThreatMetrix tells us whether we have seen a given device before, whether it has been involved in previous legitimate or fraudulent transactions, and whether we’ve seen multiple accounts opened, or attempted to be opened, using this device,” said Martin. “And since implementing ThreatMetrix, we can now stop fraud before it occurs.”
Martin likes the additional benefit of being part of a fraud network and knowing whether a device hitting BigCrumbs.com – or any other ThreatMetrix customer’s site utilizing the ThreatMetrix Fraud Network – has a negative history associated with it.
“The key to our business success is providing our members with an easy-to-use program that provides big rewards, while protecting our merchants from fraud,” said Martin. “The ThreatMetrix Fraud Network helps us do that while at the same time ensuring a positive customer experience and maintaining the integrity of our loyalty program. A better marketing experience for our merchants translates into a better experience and higher rewards for our customers. In that scenario, everybody wins.”
To read a whitepaper on the ThreatMetrix Fraud Network, go to:
BigCrumbs.com is the rewards website that offers some of the highest overall cash back offers for over 570 popular retailers, including eBay. The free service allows members to receive cash back by merely clicking through the website’s links to reach their favorite retailers. BigCrumbs combines its cash back rewards with thousands of coupon codes and discounts for even deeper discounts. BigCrumbs.com also offers a powerful referral program, which provides its members a low-cost way to increase their income.
ThreatMetrix®, The Digital Identity Company®, is the market-leading cloud solution for authenticating digital personas and transactions on the Internet. Verifying more than 20 billion annual transactions supporting 30,000 websites and 4,000 customers globally through the ThreatMetrix Digital Identity Network®, ThreatMetrix secures businesses and end users against account takeover, payment fraud and fraudulent account registrations resulting from malware and data breaches. Key benefits include an improved customer experience, reduced friction, revenue gain and lower fraud and operational costs. The ThreatMetrix solution is deployed across a variety of industries, including financial services, e-commerce, payments and lending, media, government and insurance.
Tel: 650-625-1451, ext. 122
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