It’s a common predicament when choosing your fraud solutions: you want to keep your customers safe and give them a seamless shopping experience while covering yourself for charge backs and ensuring you are legally compliant; however, most fraud solutions throw up a ‘reject all except the most safe’ transactions, causing many legitimate transactions to be rejected resulting in frustrated customers and lost revenue.

The most advanced fraud solutions take a more sophisticated approach, maximising the number of safe acceptances based on a wide range of criteria before activating review processes or, at the worst case, declining fraudulent transactions.

It might sound like comprehensive checks take a long time, but PayPoint.net has partnered with 192business.com to offer merchants Verify Your Customer (VYC), a solution that reduces the verification process to just a few seconds.

Our VYC tool works by verifying the identity of the customer behind each payment authorisation request.  Verification happens in real time against the Electoral Roll, the BT Directory Enquiries database and Credit Reference Agency data.  The customer’s date of birth and age are verified so that you, as a merchant, are legally compliant by not selling to under-age customers. This feature adds value especially to our gaming merchants. 

Identity theft costs the UK economy £1.7 billion every year, affecting over 77,500 people in 2007 (CIFAS) although these figures are somewhat conservative as identity theft is often under reported.  Impersonating dead people is the fastest growing form of identity theft, so VYC makes checks against a mortality database to ensure that the identity of a deceased individual is not being fraudulently used.

Since all the checks are automated, your customer’s experience is improved.  VYC integrates seamlessly with your PayPoint.net package and your existing fraud tools, like 3D Secure, and is cheaper and faster than a manual verification process, freeing you up to focus on growing your business.

Add VYC to your fraud solutions today by contacting us today on 0800 324 7052 or learn more about PayPoint.net’s online payment solutions.