Tickething – Ticket Fraud Challenges
Online marketplaces of any kind are fertile ground for scammers. It’s easier than ever to acquire fake credentials and stolen credit card numbers, which fraudsters use to purchase tickets. They then resell them for real profit to unsuspecting buyers, which means real fans are often in for a bad surprise.
As a fan-to-fan e-ticket resale marketplace, we had many issues with tickets purchased through stolen credit cards and offered for resale. Fraudsters tried to use our platform to cash out, which harmed our reputation and user trust.
Filtering out bad individuals was therefore the number one high priority for Tickethings’ business plan. Unfortunately, this meant increasing manual reviews, which was costly for the company, in terms of time, resources and budget.
How SEON Impacted Fraud
To filter out suspicious users before sign up, Tickething began researching fraud prevention tools. They needed it to integrate seamlessly within their platform, preferably fast, and with complete control. After hearing about SEON through word of mouth, they decided to integrate its fraud prevention API.
We were looking for an integrated solution that works with our payment solutions, and would also allow us to run security checks on our users at different steps of the user journey. SEON proved to be the perfect fit for our platform.
Results of the implementation
Reduced suspicious transactions to
Automated entire fraud prevention
The Tickething team was immediately won over by the flexibility and easy integration of SEON’s API. And the results weren’t disappointing either: after a few months only, suspicious fraud transactions decreased from 0.9% to 0.01% virtually eradicating the need for manual reviews in the process.
Since all the fraud screening and flagging is done automatically, Tickething’s team managed to increase productivity, reduce overheads, and refocus their efforts where it matters the most: giving real fans full control over their event tickets.