Dr. Glenn Gearhart CEO of World Market Vendor Services, Inc. provides News and Commentary

Pursuing Online Sales Of Gold, Precious Metals and Jewelry

Elimination of payment fraud opens gold, precious metals, precious stones and jewelry to online sales

I know of many merchants and vendors who totally refuse to sell any gold, silver, precious metals, precious stones or jewelry online. These merchants know that purchaser payment fraud in the online sales of these products is very, very large. Fraud losses in the range of 15% to 30% annually are not uncommon and in some developing countries the fraud losses can exceed 50% of sales.

To sustain business operations under these levels of fraud loss, the seller’s markup in price needs to be significant. The conclusion, in my opinion, and the opinion of many precious and stone vendors, has been to stay away from online sales until the fraud loss risks are greatly reduced or eliminated.

In some selective countries with good electronic driven verification data sources, some online merchants have found procedures and verification techniques that have reduced these online payment fraud loss rates. But the rates jump to the 15% to 50% levels if a merchant tries to expand into the global market place. We all know that global expansion is where the sales growth is, but how to get there without huge and unacceptable losses, is the issue.
Fraud Loss

A technology leader in eCommerce services, with the proprietary “Pay-Online-With-CASH™” service has solved the loss problem. You need to consider using this new technology as a pathway to higher revenues and stronger growth without credit card fraud!”

With this advanced World Market eCommerce facility and the superior cash payment technology, most of your actual and potential business fraud losses and fraud prevention costs can be eliminated.

Using this secure, proprietary payment technology, “Pay-Online-With-CASH,” you receive true cash paying customers from all over the world. Not credit card payers, with revocability and charge backs, but true cash customers. I can assure you, cash payers are the very best kind of buyers.

No one else can bring the gold, precious medals and jewelry industry cash paying customers from over 235 countries and territories, covering up to 2.4 billion internet users and one billion smartphone users. That is an enormous expanded market for your business!

References:
https://www.cia.gov/library/publications/the-world-factbook/index.html
http://www.internetworldstats.com/
http://www.wiscocomputing.com/articles/ccfraud.htm