If you raise your price, you will only end up dealing with businesses that have identified a need for your product, and know exactly how much fraud and other issues cost them.
With your price as is anyone can use it for any purpose, including those that don't involve losing money because of a fraud transaction.
I considered using you for my site just to get GEO-IP. Sure, I could setup a geoip database myself and keep it in sync manually, but at your price point... it was a no brainer.
Plus I'd get threat analysis thrown in so I can know if one of my users isn't able to see the site because Cloudflare is blocking them for being a tor exit node.
But of course if you charge $1000 a month for that, I won't use it for 'any purporse'. I'll just use it for pre-screening new subscriber accounts (and not free ones) because that's the only time it'd make sense.