Raycon Case Study
$200k
Fraud blocked in a week
1.36%
Increase in approval rate by revenue
$36k
Increase in monthly revenue
“The introduction of anything new — a new subscription model, price point, ship method, payment processor — are all part of our conversations with NoFraud. As a strategic partner, NoFraud provides insight into common fraud schemes that we can get ahead of and prevent.”
Jim Schreiber, Vice President of Operations at Raycon
Raycon is one of the fastest-growing D2C brands, dedicated to shaking up the consumer electronics industry. Co-founded by entertainer/entrepreneur Ray J, the company is inspired by the go-getters, the early risers, the performers and one-more-milers of the world. That’s why they’re dedicated to creating high-quality wireless audio products that fit the wants and needs of all kinds of doers out there, without the markup or false hype.
Raycon products have been featured with high-profile celebrities such as P. Diddy, Justin Bieber, Snoop Dogg, Cardi B, Ne-Yo, Migos, Cara DeLevingne and many more. The company has garnered attention from media outlets such as Forbes, CNN, Mashable, Cheddar, and Billboard.
NoFraud Saves the Day: More than $200,000 in Fraudulent Orders Blocked
Since its inception, Raycon knew fraud prevention was critical to its business and launched with the NoFraud solution already in place. The solution ran in the background until Jim Schreiber joined the team as VP of Operations. Jim did a pulse check on all the vendors they used across the organization, setting up calls to establish working relationships. He found NoFraud stood out from the rest as his dedicated customer success manager, Cynthia Wambua, added much more value on top of the technology.
An integral partner, Jim was able to lean on Cynthia to forecast fraud hurdles. In one example, Cynthia flagged a common fraud trend rising that was specific to his industry — returns fraud. Within a week, Jim noticed his first case of returns fraud. Raycon had launched a new earbud product and sales spiked. However, they found that fraudsters were placing these orders — purchasing thousands of dollars of the new product with the intention of returning empty boxes.
“We were doing whack-a-mole as these orders were coming in,” explains Jim, as the amount of fraud continued to rack up at a startling pace. The returns fraud attack was costing Raycon tens of thousands of dollars per hour. Jim immediately called Cynthia and she jumped in to work with their programmers on setting up effective fraud defenses. By 4:00 pm that same day, their backend infrastructure was secure and this crazy day was over.
“Because Cynthia knew what she was doing and was able to help so quickly, we were able to save a couple hundred thousand dollars fighting returns fraud orders with NoFraud,” Jim shares.
NoFraud is the Best Partner
“As soon as we started leaning on NoFraud’s expertise, we noticed there were things we could do to get ahead of fraud,” says Jim. Today, the Raycon team looks at NoFraud as a strategic partner. They meet with Cynthia each month and lean on her expertise to keep their business secure and running smoothly.
“The introduction of anything new — a new subscription model, price point, ship method, payment processor — are all part of our conversations with NoFraud,” Jim shares. “As a strategic partner, NoFraud provides insight into common fraud schemes that we are able to get ahead of and prevent.”
“The level of service NoFraud provides, in addition to its technology, is what makes it a killer fraud prevention partner,” says Jim. Partnering with NoFraud has helped Raycon stay ahead of the curve when it comes to protecting its business from fraud.
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Customer Testimonials
Praise From Some of Our
Successful Customers
“5 stars across the board! We switched to NoFraud a year ago and not only did my approval rate increase drastically but pricing was also a lot more competitive. The integration is seamless and literally worked out of the box with zero changes to our current workflow.”
“NoFraud has been absolutely amazing. Before NoFraud, we were suffering from a barrage of fraud attempts, which resulted in tens of thousands of dollars of chargebacks. Once you install this app, fraudsters will give up hope. I think it’s a no-brainer.”
“Implementing NoFraud has vastly improved our business operations, not only by significantly reducing chargebacks and false positives, but by turning our inefficient fraud prevention process into a simple pass/fail decision that saves us loads of time and stress.”
“This is some of the best money we have ever spent. Integrating the app was quick and smooth, the support is fantastic and far superior to the service offered by some of their competitors. Our fraudulent orders have dropped by almost 60% since integrating NoFraud as compared to Signifyd and all orders that are charged-back are quickly reimbursed.”
“I switched to NoFraud from another guaranteed fraud prevention provider. My approval rate improved, pricing was more competitive, NoFraud customer support is superb and the user interface is intuitive and informative. My only regret is that I did not make the change sooner.”
“Normally not one to write reviews but absolutely must applaud NoFraud. I switched over from a big name competitor that dropped the ball huge on support. I’ve had no such issues with NoFraud — their support agents has been super responsive. The sales folks answered my every detailed question — even digging into API documentation. Their onboarding team was top notch. I was up and running super quick! Very happy.”
“The NoFraud app is really easy to install and set up. NoFraud’s analysis has been much more effective than the standard default Shopify fraud analysis. It catches fraud missed by Shopify and passes orders that Shopify said were high risk. Best part is, you can contact NoFraud and speak with someone.”
“The team at NoFraud are amazing. They have been a strong partner against the fraudsters. Right before we signed up we were hit with several thousand dollars of Mule Fraud. The addition of this app has definitely saved us money. Worth every penny. I would totally recommend them.”
“We can’t say enough wonderful things about the team at NoFraud. They are extremely responsive, knowledgeable, and easy to work with. The peace of mind we get from knowing that they are handling the fraud check process is invaluable. NoFraud’s system consistently delivers accurate order ratings and recommendations.”
“NoFraud has been fantastic. We switched from Signifyd and haven’t looked back. Better rates, vastly simpler customer service, easier touch points for service/help, chargeback protection and filing on our behalf (this was huge — of the few chargebacks we’ve gotten, NoFraud takes care of them and we’re good to go!). Super fast verifications (if/when needed). Great staff. All in all, definitely recommend going with this app!”
“Excellent communication. Easy to use service. Available to resolve and questions or concerns that arise in a timely manner.”
“NoFraud’s ability to extend internationally is great since we have no experience or knowledge in international sales. Without NoFraud, we’d have to learn everything there is to know about fraud detection in another market.”
“When I did a chargeback audit over the last 5 years before NoFraud, I saw that had I been a NoFraud customer for 10 years, I could’ve bought a boat with all the savings.”
“We didn’t realize how much money we were leaving on the table until we used NoFraud.”
“Turning NoFraud on was like a magic switch. Poof! All of a sudden our fraud problems disappeared.”
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