Pretty amazing stuff.This advancement doesn’t come without its challenges. Buying over the World Wide Web guarantees a certain level of anonymity that some bad apples try to take advantage of. And here at Proxibid, we know we are only as strong as the community of buyers and sellers that form our Marketplace. It is our responsibility to qualify and monitor users to ensure Proxibid remains a fair and trusted site for buying and selling highly valued items.
To meet this new world head-on, we have created a comprehensive risk management system to oversee the entire Marketplace. This system is a sophisticated hybrid of proprietary technology and third-party partnerships managed by an in-house team of experts.
Our risk system was built by some of the foremost experts in online safety and risk management.
Much like a credit card company, we track the site for irregular or unusual buyer behavior that might indicate fraudulent activity. Our risk management system has a number of automated safeguards in place including:
All sellers are subjected to comprehensive review process before gaining access to the Marketplace, including a thorough background check and financial review. Our system also maintains:
Before any user can complete a buying action in a particular sale, that buyer’s information is run through a series of algorithms and must pass various checkpoints. Marketguard® uses the data entered in the buyer’s account and other third-party information to determine if the buyer will be a reliable customer. Buyers can only participate in a sale if they pass the MarketGuard® test. And if a certain sales event warrants it, sellers can require additional information to ensure buyers are vetted more aggressively. It all happens instantly, behind-the-scenes, giving buyers a hassle-free shopping experience.
In addition, Proxibid provides dispute resolution services in those situations when buyers and sellers do come to an impasse regarding a transaction. Proxibid will mitigate the dispute acting as an impartial party representing the Marketplace. This is a unique service not seen on any other live selling platform.
Learn more about Proxibid’s proprietary MarketGuard®
Learn more about Proxibid’s payment solution, APN.
Our system is both automated and manual. On average, 91 percent of all activity is automatically approved by our systems and the remaining activity is either declined or vetted manually by our in-house risk management staff using data provided by key third-party partnerships.
All that hard work pays off. The Better Business Bureau has recognized Proxibid with an “A” rating and our Marketplace has an industry-low, non-pay rate of 0.5 percent. But we aren’t stopping there. We are constantly innovating and improving our risk management system. Proxibid is committed to providing a trusted community where buyers and sellers can connect.