Hi all, I've been visiting this forum for a while and I think it's wonderful how everyone is so friendly and helpful.

I'm setting up my webhosting using a reseller account at first until I get on my feet. My question to you (if I may) is:
If I have my merchant account with wellsfargo who do have extra fraud screening in addition to what's done by authorize.net, do I still need to sign up with a company such as "fraudgate.com" for extra protection, or do you think what I have is sufficient?

The wells fargo merchant account is called "secure source suite".
Any pointers will be greatly appreciated, and thanks in advance.

Hatimoto

Learning without thinking is labor lost
Thinking without learning is a dangerous task.
Confucious

You can never have enough protection! Can you?

True.
I was just thinking, since I'm starting out, to try and control the expenses a little, to allow me to spend more on advertising.
But I might as well just do it now and get it over with.

How much are you going to be processing? I would sign up with Fraud Gate first & then maybe expand on other fraud screening techniques later.

What kind of protection do they offer?
Is their gateway similar to AuthorizeNet?

Hi, thank you all for the replies.

coreybryant, I actually am not sure how much will I be processing since I'm starting out, but I'll do what you said. I'll start with the basic plan then expand as I go.

eCommando, they offer something called "Wells Fargo RiskAssessor®" fraud detection and prevention system, using extensive data records and 150 decision rules to screen for fraud, and for gateway, they use verisign and authorize.net which I will be using.

I don't think you can ever be "too safe" these days. Fraud rates keep rising as to the losses to merchants in various categories.

I highly recommend implementing systems like FraudGate and other tools. The mere act of voice verifying all of your new signups will help you reduce the % of fraud that you encounter and the other metrics produced by those types of systems that do the IP/GEO/BIN scrubbing also assist in this process.

We've seen some of our largest merchants reduce their chargeback volume by 80% or more after implementing one or more of the above mentioned methodologies.

Thanks cdgcommerce.
That was a good point about those implementations.
I will definitly implement one or more of those schemes.