Hey guys, First of all I'm new here so greetings to everyone! I'm in the middle of launching a website that does jewelry rental, and the biggest concern I have is how to protect myself from fraudsters. Basically, the site allows consumers to rent out fine fashion jewelry for a fee. Customers will choose the jewelry, go to check out, and pay with a credit card. Once I get that information, I will charge them their fee plus put a hold on their credit card. I'll match up their billing and shipping address as well. 1. Are these actions sufficient to safeguard me for the most part? 2. Am I missing out anythinge else? 3. What happens if a customer takes out jewelry and then cancels his or her card while I've put a hold on it? Looking to learn more about this. Please let me know if I've posted in the wrong forum. Thanks
I have worked in the ecommerce and the payment processing industry also for years. Thats a tough one to be honest. I would voice verify everyone depending on the value of the jewelry. You probably want to get a hand signature of some type of rental agreement as well. If you have authorize a charge, you can still collect on it even if the customer cancels the card. I would recommend trying the service out with low cost jewelry first before going anything that is expensive.
thanks for the information ron. Yea i plan to collect phone numbers and just call as an added step. I think i can have an equally legal binding agreement online without the need for something handwritten. check out adorn.com....they've been in this space for a few years and seem to be doing relatively well. I think
You have to verify your site, (example verisure or secured+) i am not familiar with the websites, but whenever you a have customer wants to buy, they will feel safe because there is a sign "verified by___"