We blew it!
We should of been more transparent with you when we talked about the recent fraud activities that occurred back in October. We shouldn’t have asked you for your personal details (or if you were human)!
How did this happen?
Pretty simple, actually. We discovered rampant fraud by members targeting our fast, daily payouts.
We found hundreds of bad apples, buying $100,000+ of goods from stores using fake credit cards, taking advantage of the quick daily cash back earnings (often banking 20% or more), only to run off with the cash before we were alerted by the merchant it was a fraudulent order.
These bad apples ran off with over $20,000+. Had we not delayed payments while we worked to introduce new ways to verify accounts, we would have lost much, much more… upwards of $100,000.
Giving Assistant doesn’t make money from members (we give 100% of the commission received from the merchant back to you), so this was a hard hit financially for a new business. In order to stay in business, we had to find ways to vet these fraud accounts and only pay verified members.
In a rush to get our payments turned back on, it was decided the best way to prove a member was, in fact, “real” was to use social security or tax ID information. We’ve since realized this wasn’t the best solution and we’ve already begun evaluating alternate verification options.
We can’t promise it’ll always be smooth sailing, but we can promise to be relentless in improving your experience with Giving Assistant. We won’t stop until we’ve got the highest cash back rates from the most stores, the best tracking, the best website – and the best customer service EVER!
Sincerely, James Gray
Chief Giver, Giving Assistant