Security & Fraud

Scammers Beware, Thanks To Kevinsured Insurance

Everybody loves a good bargain, and with peer-to-peer sites like eBay and Craigslist, it’s easy to find just the right item regardless of location.

The big issue commonly found when buying or selling items on these sites is when either party is less than truthful. Scammers are lurking everywhere, trying to either not send a payment for an item or sending out something not remotely close to what was described or pictured in the posting.

To help stop scammers, startup chatbot company Kevinsured is here to save the day. For any transaction under $100, this product acts as an intermediary between the buyer and seller. Once a purchase is made and Kevinsured is notified of it, the chatbot product reaches out to both the buyer and seller to verify everything is legit.

Spanish startup, Traity, is planning to host Kevinsured under a freemium model with larger purchases garnering a yet-to-be-determined fee. The Next Web quotes Traity’s CEO, Juan Cartagena, who said, “We want to create a safer internet where we can trust one another. We think that [Kevinsured] has the potential to power trust in the sharing economy by putting our money where our mouth is.”

It’s tough to truly trust people online when it comes to purchases that aren’t done through a specific reliable retailer. With retailers, there’s typically no question of what type of product will be received or whether or not a payment will be received. eCommerce retailers have the upper hand because of this.

With the introduction of Kevinsured to the online marketplace, these peer-to-peer eCommerce sites will be able to compete on a much higher level. Sites like TradeMe.com and Gumtree.com now just might give Amazon a run for its money.

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Latest Insights: 

The Payments 2022 Study: Building A High-Performance Payments Team For Fraud Detection, a PYMNTS collaboration with Stripe, examines how digital platforms of all sectors and sizes plan to develop their anti-fraud teams as part of their their broader growth and development strategies. Drawing from an extensive survey from approximately 250 payments heads at digital platforms in the U.S. and abroad, our study analyzes how poor anti-fraud capabilities can harm platforms’ long-term growth strategies, and how they can build high-performing teams to tackle these challenges.

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