Proxibid qualifies and monitors users to ensure that we conduct business in a fair and trusted way for buying and selling highly valued items.
To meet this new world head-on, they use 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.
Sounds fancy? It is.
The risk system was built by some of the foremost experts in online safety and risk management.
Keeping Fraud Out of the Marketplace
They monitor and identify unwanted activity in the Marketplace 24×7. Much like a credit card company, they track the site for irregular or unusual buyer behavior that might indicate fraudulent activity. The risk management system has a number of automated safeguards in place including:
- Adhering to all requirements for merchant processing to ensure all buyer credit card information is safe
- Monitoring for previously banned buyer profiles
- Verifying unusual account activity by location
- Monitoring changes in account behavior and profile information
- Tracking abnormal retracted bids
- Cataloging all bids with detailed information
- Using external sources to validate buyer information on file
- Vetting international buyers with state-of-the-art technology
- Cross-checking buyer information against the Office of Foreign Asset
- Control’s (OFAC) Specially Designated Nationals lists which documents individuals who are prohibited from transacting with U.S. persons
Setting the Bar for Sellers
Our risk management system works double-time to ensure only the best of the best sell on Proxibid.
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:
· A badging system that acts as a short-cut, pinpointing sellers who offer low premiums, faster shipping, stellar customer support and more
· Mandatory disclaimers that identify sellers who bid on their own items or have the ability to see a buyer’s maximum prebid
· Functionality that allows buyers to report an item they believe to be counterfeit, illegal, inappropriate, or misrepresented
· A five star rating system that allows buyers to rate their experiences, impacting seller behavior
Prime Star Auctions LLC Is A Preferred Partner with Proxibid!
Delivering a Trusted Buying Environment
All sales events that we conduct on Proxibid are monitored by MarketGuard®, their proprietary, bank-quality risk mitigation tool.
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.
The Proof is in the Marketplace
Proxibid has a pretty amazing risk management system built by some of the brightest minds in risk today.
Their system is both automated and manual. On average, 91 percent of all activity is automatically approved by their systems and the remaining activity is either declined or vetted manually by their 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 they aren’t stopping there. They are constantly innovating and improving our risk management system. Proxibid is committed to providing a trusted community where buyers and sellers can connect.