Building a Fraud-Free World with SEON’s Free Plan

I was a victim of fraud – let’s get that out in the open. After I met my co-founder Bence at university, we started to build a crypto exchange. Not far into our journey, we were hit by fraudsters. I’m sure you probably know a friend, family member or colleague who’s also been hit by fraud or cyber crime, and you have seen the impact it can have. 

That’s one of the main reasons that SEON was founded – to fight people committing cybercrime. We were so frustrated that someone could so easily tamper with all our hard work that we created a new mission for ourselves. That mission was to create a fraud-free world. This mission covers quite a lot, and we have some pretty big plans, but the SEON vision started to protect the vulnerable – as it continues to do – while also helping online businesses secure their returns while minimizing opportunities for crime.

Fraud is a global problem, so let me share a couple of statistics with you that we refer to often at SEON. 

• In 2021 alone, online transactions rose 65%. In this same period, online fraud increased by 233%. And although the 2021 figure was no doubt boosted by the pandemic, year on year, more services are offered online so it continues to grow. 
• The loss to e-commerce transaction fraud, grew from $27 billion in 2020, to a predicted $52 billion by 2025, and we expect this figure to rise further beyond that. 

It is dangerous to underestimate your enemy, and fraudsters are incredibly clever. They are swift to jump on new opportunities, they are extremely numerous, and they can often move a lot quicker than the people and technology challenged with catching them. 

As an example, we are rapidly approaching Black Friday. The increased traffic generated by this now-global retail event is a bountiful autumn harvest time for cybercriminals. They can strike with schemes that will often go unnoticed as waves of transactions wash over companies and their risk teams. 

I think I know what you are thinking. We have an impossible mission – why are we bothering? I suppose the answer is because we can. We have the people and we have the tech to fight back against fraud.

With this in mind, I’m delighted to announce our Free plan. This is the new free version of our platform, which democratizes fighting fraud. It puts our fraud-fighting capabilities right at everyone’s fingertips, which is why it is designed to allow small businesses to have fraud protection in place while they are still building. 

The SEON platform makes it tough for fraudsters by intelligently combining real-time social signals, phone, email, and IP lookup details with device intelligence and machine learning. This effectively creates a security wall that stops fraudsters, uncovers fraud patterns, and discovers revenue opportunities. 

What our Free plan gives you:

• All new users access the full power of our fraud detection solution on a 14-day trial. At the end of their free trial, users will be automatically reverted to our “forever free” plan and may continue to use our service. 
• A “forever free” plan helps us better serve and protect online businesses of all sizes, as we remain relentless in our pursuit to create a fraud-free world.
• Accessible, pay-as-you-go, versatile pricing structure that ranges from startup-friendly to enterprise-ready, to make fraud prevention and detection easier for every online business.
• The Free plan supports up to 2000 API calls each month, at 2 QPS (queries per second). This allows small businesses to have full-scale fraud protection in place even while they are still building their infrastructure.
• Free users also receive email support from our customer success team, so everyone can draw on their extensive experience in fraud management. 

We don’t want great ideas to be destroyed before they even have a chance to establish themselves. This has been the driving reason behind a free SEON plan since Bence & I became the victims of fraud ourselves all those years ago. We want to make sure nobody else’s small business gets wounded by cybercrime before it even has a chance to spread its wings. 

Thank you for reading. Experience SEON for free here and keep up the fight against fraud!