Prevent Subscription Fraud and Chargebacks with CRIF Integration

circuly has partnered with CRIF Buergel to support you in preventing chargebacks and subscription fraud. 

The problem. 😣

Subscriptions lower the financial barrier of getting access to a product. 7/10 times it is a good thing as it can help increase your customer base by making your product attractive and available to a larger audience.

‍But you also attract customers who have a low credit score or are not creditworthy. 

Implication. 🙈

You increase your risk of payment withdrawals. And that risk is magnified because unlike a normal selling model where you face the threat of a failing payment only once, in a rental business model with recurring payments, you have to tremble with a non-payment or chargeback every month or sometimes even week.

Solution. 🥳

How do you decide which customer to swipe left ❌ and which customer to swipe right ✅ ? 

With a credit check integration in your checkout flow, you can get insights into your customers* risk profile and decide if you want to accept or reject a customer. 

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How credit check with CRIF works?

With the circuly CRIF integration you have two possibilities:

• Refuse customers in the circuly checkout - circuly uses the CRIF API to determine the creditworthiness of the customer as the customer fills in their details in the checkout and rejects them if they have a low score. This way you avoid costly chargebacks but at the same time reduce your conversion rate in the checkout process. 
• Refuse customers in the circuly operations backend - Get real-time credit check data in your order information when starting a subscription you get the information about the credit worthiness of the customer at a glance in the circuly operations backend and can decide for yourself if or not you want to accept her/his order. You can decide if the credit score is sufficient, or, if not, you can cancel and refund the order right from the circuly operations backend.

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With rapid growth rates in e-commerce, the topic of online fraud and payment defaults is more relevant than ever. The e-commerce industry is predicted to overtake physical in-store sales by 2027 with a global market volume of USD 6.52 trillion. This article deals specifically with the prevention of chargebacks.

If you want to learn more about how circuly can help you make your rental business ready to scale, get in touch via info@circuly.io and let’s have a virtual coffee together!