Entrupy Fingerprinting : Helping retailers combat fraud

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Entrupy Fingerprinting : Helping retailers combat fraud
Gautham Gopalakrishna
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The world will have to deal with increased crime rates and fraud and retailers are particularly vulnerable as well.
NRF 2019 study (http://nrf.com/research/2019-organized-retail-crime-survey) estimates that average shrink rate for a retailer is 1.38%; i.e, about 1.38% of revenue is lost due to pilferage annually.
One of the popular types of fraud faced by retailers is return fraud.
Organized crime rings typically use the retailer’s friendly return policy to buy expensive products and return fake equivalents of the same product.
More often than not, the store associates are not trained to differentiate super fakes and the authentic products.
It’s a double whammy for retailers; they lose the product, money and also end up having a fake product in their inventory.
When the next customer picks up this fake product, it results in loss of reputation and can lead to lawsuits.
For example, when customers buy a product and forget to take the receipt with them, it offers a window of opportunity for the store associate.
Store associates pick such left-over receipts and create a false return transaction to pocket the refund amount.
Entrupy Fingerprinting
We at Entrupy have been helping retailers to detect and prevent return frauds using our patented visual fingerprinting technology.
It uses microscopic images of products taken using our specially engineered hardware.
Entrupy’s hardware is an iPod accessory that magnifies images 260 times.
Entrupy’s cloud software uses the virtual identity to detect if the same product was returned or if the returned product was a counterfeit one.
How is it being used in retail?
Retailers fingerprint every product that they have in inventory using Entrupy’s device (akin to creating a barcode for every product).
Once a unique fingerprint is registered, it is securely stored in our cloud servers.
Depending on the nature of retail, fingerprinting can be done at warehouses, distribution centers or at the retail stores

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