The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
SecureBuy is a e-commerce fraud solution that addresses 100% of online payment fraud.
RIDGELAND, Miss., Aug. 7, 2012 -- Last week, the Consumer Federation of America (CFA) released its annual top ten list of consumer complaints received by 38 consumer agencies in 2011. Coming in at number seven was Internet sales. Consumers complained that online retailers misrepresented products and failed to deliver as promised. What many online retailers do not know, however, is that they can protect themselves from these types of complaints and their associated chargebacks, thanks to SignatureLink SecureBuy, the world's first all-in-one eCommerce fraud solution.
Until now, eCommerce fraud solutions accomplished one objective: screen out online payment fraud based on site visitor behaviors, devices, and other criteria. The effectiveness of these solutions has historically varied, and the average online retailer purchases more than six eCommerce fraud solutions in an attempt to stop losing money to fraudulent chargebacks. Despite that expense, eCommerce fraud is a growing and costly problem.
SecureBuy is the only end-to-end eCommerce fraud solution that addresses 100% of online payment fraud. While it starts with ThreatMatrix™ comprehensive fraud screening, SecureBuy also includes CNPS™, the world's first patented, legally binding online signature pad -- a feature that ensures that customers not only see online retailers' terms and conditions but understand and purposefully consent to them as well. The system creates a forensic screen capture of the signature, along with everything the customer saw and agreed to during a transaction, including full disclosure of the applicable terms and conditions. Furthermore, SecureBuy features TransExam™, the only payment-neutral chargeback management system available to the online retail industry.
"SecureBuy ensures the customer understands exactly what he or she is buying," stated SignatureLink COO & General Counsel James Packer. "By creating a secure forensic document showing everything that occurred during a given eCommerce transaction, SecureBuy protects the online retailer during the purchase and in the event of a purchase dispute."
In fact, according to data from SignatureLink and its industry partners, SecureBuy reduces fraudulent refunds and credits by 55% and eliminates 93% of chargebacks. Online retailers already using SecureBuy report more sales conversions and zero customer abandonment as a result of implementing the system.
"Consumers have greater confidence shopping online at sites running SecureBuy," said Wooten. "The system's online signature pad has a look and feel customers know from shopping at bricks-and-mortar retail stores. SecureBuy is a simple, affordable way to boost customer confidence and increase profits at the same time."
SignatureLink SecureBuy is available to online retailers for just a few cents per transaction, with no upfront fees, monthly minimums or long-term contracts. Merchants may integrate the secure, cloud-based system easily into any online shopping cart, and the system does not require any complicated coding.
Learn more about SecureBuy at http://www.signaturelink.com/securebuy/securebuy-the-law.html.
About SignatureLink, Inc.
Founded in 2002, SignatureLink, Inc. is the eCommerce stabilizer. The company debuted its patented, electronic handwritten signature technology -- the online signature pad -- in 2005. Since then, SignatureLink has diligently developed products that help online retailers successfully fight Cybershoplifting™ and other forms of eCommerce fraud to lower the cost of payment acceptance and increase profits. SignatureLink is led by e-commerce pioneer and payment acceptance evangelist Greg Wooten, a seasoned executive in the emerging technology and financial services industries. Visit http://www.signaturelink.com for more information.