Merchant

We Are a Purpose Driven Company

We transmit consumers' voluntarily submitted pre-authenticated facial images as a security tool to your Point-of-Sale, Desktop, or mobile eCommerce site, where our overall legitimate business practice is (a)  Social Justice to reduce income inequality due to direct or indirect restrictive covenant housing or local neighborhood policies where the object is to build intergenerational wealth at gentrified real estate addresses such that this practice is necessary to the safe and efficient operation of our purpose driven Company’s legitimate business practice deploying Social Justice Outerchange Rating (SoJOR) and (b) to reduce or eliminate fraud risk at your your point of sale. This is our remarkable patented Unique Selling Proposition (USP) to you.

BENEFITS & PERKS TO MERCHANTS

·       Partnering with Gincoe’s strong purpose driven goal of Social Justice will improve your reputation in your local community. Did you know that

ü  66% of consumers absolutely consider a company’s purpose when making purchase decisions.

ü  62% believe a company’s purpose is an important factor when making a quick or impulse purchase.

ü  71% would purchase from a purpose-driven company over the alternative when cost and quality are equal.

ü   78% are more likely to remember a company with a strong purpose. Porter Novelli’s 2021 Purpose Perception Study

·      As a merchant, you will evenly match the consumer’s Social Justice Fee equivalent to the security value that we assign of their biometric facial image per transaction.  Put another way:  This means that the SoJOR fee that consumers pay is evenly matched by you and may show up as an unrealized loss. Unrealized losses (paper loss) are not reported to the IRS. On the other hand - Realized losses (Actual loss) such as loss revenue from fraud should be declared in a given year.

·       Like the processing fees that you currently pay on sales tax, the newly introduced SoJOR fee at the point-of-sale enjoys the same tax-deductible treatment come tax time. It is NOT a surcharge, because we are not offsetting cost like ATM fees, fuel surcharges, Cable TV surcharges, disposal fees, handling fees, hazardous waste fees, filing fees, tips and gratuities, processing fees, convenience fees, or checkout fees. We are none of those things. We are providing a service: Social Justice and Identity Theft Protection at the point-of-sale.  Consult a tax professional for your State to learn about your business tax deduction.

·       What is the Purpose of the Fee?                                                                         

It is a security fee that reduces your chargeback risk due to fraud that you impose where the proceeds helps reduce income inequality.

Globally, chargeback fraud cost merchants $20 billion in 2023. Chargeback fraud is expected to cost merchants $28.1 billion by 2026. 75-86% of chargebacks are probable cases of 'friendly fraud (i.e. chargeback fraud). The average merchant reported a 19% increase in chargeback fraud from 2022 to 2023.  We reduce your chargeback expense due to fraud.

·       Did you know that in 2023?

• Chargeback rates are approaching pandemic levels, with an estimated 19% increase in chargebacks received. 

• Card disputes - Consumers disputed about 105 million charges with US card issuers in 2023, worth an estimated $11 billion.  You recognize this as labor expense, representment costs, and lost goods or services that are never replaced.

• Cardholder behavior

The average cardholder filed 5.7 chargebacks in 2023, with a dollar value of $76 per dispute.   We will empower you away from this hamster wheel if the chargeback is due to fraud.

Chargebacks due to fraud can have a significant impact on you in a number of ways. We reduce your….

·      Loss of revenue - You lose the revenue from the sale when a customer disputes a charge and receives a refund. We prevent this if fraud is involved.

·       Fees - Merchants are charged fees for each chargeback by their bank or payment processor, which can range from a few dollars to a percentage of the transaction amount. Fee reversals back to you are rare.  As experts in this space, we know that your margins are slim. Once you are a victim of fraud, few retailers ever have the interchange fee on the transaction reversed. Few have the association's assessment refunded. We take the sting out of this for you and free you up to running your business. We prevent these fees if fraud is involved.

·       Administrative costs - Merchants spend time and resources managing the chargeback process, which can include gathering evidence, representment investigations of finding the receipts, labor responding to inquiries to the card issuer, plus submitting documentation. As experts in this space, we know that retailers often have an inability to provide compelling evidence that the card holder did in fact consumate the transaction. This results in settlement delays. We prevent this if fraud is involved.

·       Higher risk factor - Merchants with a high chargeback ratio are seen as a higher risk by your merchant bank and credit card issuers, which can lead to additional fees or penalties. We prevent this if fraud is involved.

Reason Code 30:  Services not provided or Merchandise not received

Reason Code 53:  Not as described                                                        

Reason Code 57:  Fraudulent Multiple Transactions                                

Reason Code 62:  Counterfeit Transaction                                                 

Reason Code 72:  No Authorization                                                                  

Are just a few Visa chargeback reasons codes.

·       Did you know the Merchant Chargeback Monitoring Program (MCMP) and Merchant Alert To Control High Risk (MATCH) program monitors chargeback activity for all U.S. acquirers and merchants on a monthly basis.  If a merchant meets or exceeds specified chargeback thresholds, its acquirer is notified in writing.

First notification of excessive chargebacks for a specific merchant is considered a warning.  If actions are not taken within an appropriate period of time to return chargeback rates to acceptable levels, Visa may impose financial penalties, on acquirers that fail to reduce excessive merchant-chargeback rates. This flows down hill to you the merchant in the form of higher fees, suspension for 1yr, or termination as a card acceptor.  We eliminate this for you, if fraud is involved.

·       By implementing sound best practices as a Ginicoe Merchant member, you are signaling to Visa, MasterCard, AMEX, Discover, Diners, and others that you take fraud seriously and you are proactively reducing your risk level.

·       Damaged relationships – As discussed, a large number of chargebacks can damage your relationship with your bank or payment processor, which could lead to higher fees or the loss of payment processing privileges.  We prevent this if fraud is involved.

·       Lost inventory – You suffer from goods or service loss. Additionally, you need to account for the potential loss of inventory when forecasting demand and managing reorder points. Tangible goods are more prone to real fraud resulting in less representments and lower win rates on those represented.  30% to 40% win rates on the chargebacks that retailers choose to fight. This is not good. This is even lower for digital goods. Gift cards, e-books, software, Online courses, Apps, Photography, Digital Art, and similar. We augment your loss prevention policy if fraud is involved. This pushes the bad guy down the street to a merchant who has not yet SignUp and frees you up to focus on running your business to be a success.

·       Lost consumers - Consumers may abandon you if the dispute process is lengthy. Consumers will abandon you if they believe their card became compromised at your location. 

 Brand damage - Chargebacks can damage your brand

·       On average, US merchants reported an 8% increase over last year in the cost per dollar of fraud losses, from $2.23 to $2.40. This means that for every dollar of losses, merchants are losing $2.40 based on chargebacks, fees, merchandise replacement, reputational harm, services lost, representment cost, investigative time, and higher risk category by the card associations.  Already your profit margins are slim. By joining Ginicoe Membership, you improve your sales plus you help your neighborhood.

How Does it Work?

·       We electronically transmit a true, pre-authenticated and accurate biometric facial image of the true authorized cardholder directly to your POS display[1]. This empowers you, the merchant, to compare and contrast in real time the person standing in front of you with the pre-authenticated image.  You then enjoy the power to permit or deny the transaction.

·      Our Freeware complies with card system operating rules - in particular industry mandated PCI-DSSv04, Visa’s Cardholder Information Security Program (CISP), and MasterCard’s Site Data Protection Program (SDP) and best of breed encryption standards.

·       Ginicoe is a proud member of the Fast Identity Online, or FIDO Alliance.

·       We enhance the EMV chip that is vulnerable. Did you know that most of the major data breaches have been engineered through malware? Chip-and-pin technology alone would not have prevented them. See the

Ø  Target Data Breach up to 40 million cards breached.

Ø  The UPS data breach that has impacted over 100,000 consumer transactions at 51 UPS franchises.

Ø  Supervalu Inc data breach at their POS affecting 180 stores and 40 million consumers.

·      PINs are vulnerable because they are limited to debit cards. Unfortunately, PIN is over 50 years old.  Worse, the bad guys simply select credit at your card reader and bypass PIN. We fix this for you.

·       Signatures are vulnerable because they are only for credit cards. This means anyone can sign the card reader. We fix this for you.

·       When a data breach of a 3rd party occurs - like what happened at MC2 exposing 106 million Full Names, Emails, IP Addresses, DOB, Partial Payment Details, Home Addresses, Phone numbers, Employment and legal histories, Property Records, Family, relatives and neighbors data, and passwords.

Armed with this stolen data - the bad guys simply open up a new charge card. Now this does not directly include you - Never-the-less you get pulled into because the bad guys pick your store to buy stuff using the new charge card – because they found out that you have NOT SignUp yet with Ginicoe. That's not fair to you. We fix this for you once you join our merchant family.

How Much Does it Cost Me?

·       FREE! Retailers already invest heavily in fraud detection software. We get it. That is why our Freeware is available to you at no charge during this introductory time period. You may only need to invest in a monitor so you can see the facial image – unless of course you already have a monitor – in which case, you spend zero dollars.

·       Our Freeware to merchants reduces or eliminates chargeback expenses due to identity theft and fraud. This reduces your transaction fees.

·       This Free download - informs card issuers, consumers, and Congress that you have taken all necessary precautions to guard against identity theft and card fraud. This reduces your liability exposure. 

• To become approved – simply download our introductory freeware before the deadline expires.

·       We also provide you with online monthly transaction statement of total fees collected with the granularity of who the cashier was at the time of the transaction. This helps you with management and tax accounting.

• We reduce your chargeback cost due to fraud once you are an approved merchant.  To become approved – simply download our introductory freeware before the deadline expires.

·       Our Freeware has reduced our member merchants chargeback expenses due to fraud by $30%, which exceeded over $100 billion in 2023 that has an estimated compound growth rate of fraud at 1.5% YOY, according to the merchant fraud journal.

Why Would Card Holders Do Business with You?

·       As previously stated, consumer preference show that our Social Justice purpose driven company impacts purchase decisions. Did you know that 78% of exit survey respondents indicated they are more likely to remember a company with a strong Purpose. Porter Novelli’s 2021 Purpose Perception Study

·       Our Biometric Freeware provides cashback rewards to cardholders on the 21^st of each month based on their Social Justice Outerchange Rating (SoJOR)™. Our Social Justice purpose is to reduce income inequality through integrating home ownership.

Social justice can help merchants in a number of ways, including: 

Increasing customer loyalty: Consumers are more likely to buy from companies that align with their values. For example, 42% of consumers are more likely to buy from a brand that is committed to diversity and inclusion. 

Improving profitability: Research shows that companies with effective Corporate Social Responsibility (CSR) programs are more profitable. 

Attracting talent: Talented employees are more likely to work for socially responsible employers, even if it means a lower salary. 

Demonstrating purpose: Corporate giving is a way for companies to show their commitment to their employees, customers, and the communities they serve. 

Raising awareness: Consumers believe that brands are raising awareness about just causes. 

Educating consumers: Consumers believe that brands are educating them on important topics. 

Social justice is a political and philosophical movement that aims to create a more fair and equal society by addressing historical injustices and directing resources to underserved communities.

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Why is social justice important for business?

People associate products from a sector they align with their values. In addition, they are willing to pay extra for such products. Likewise, talents prefer to work for socially responsible employers, even if it means a pay cut. Intentional civil equity is also one of the best ways to help local and global communities.

Why social impact is good for business?

Social impact is vital for businesses as it builds brand reputation, fosters customer loyalty, attracts and retains talent, and can lead to sustainable business growth.

As a retailer – Why should I care about racially integrating housing?

·       When working households, retirees and others can comfortably meet basic costs associated with local housing, they have more time, money and energy to invest locally. There is less political violence and improved trust. This leads to less traffic, more stability, and engaged residents. Gentrification increase retail activity in general, especially the number of grocery stores and restaurants, and the types of products offered. This is because new residents have higher incomes and diverse needs and are ready to spend on groceries and restaurants. Think of the kosher or international food section located in many grocery stores today.

As a retailer – Why should I care about income inequality?

·       As the middle class is depleted, retailers and manufacturers reap less revenue and respond by dropping their least-profitable products. You end up offering fewer products and product lines in roughly the same number of stores. Think Family Dollar. Income inequality leads to fewer kinds of products available to all shoppers and less revenue to you.

·       Consumers voluntarily consent to you using their facial image supplied to you by us to protect them against fraud and data breaches such as National Public Date of 3 Billion People's personal information.  These bad guys may walk into your store attempting to impersonate the Ginicoe consumer. But if you SignUp with us, then the bad guys will move on to the unsigned merchant and you are protected.

To begin saving money and eliminating card fraud at your point of sale, simply download our introductory offer of Freeware before the deadline expires.