Fraud prevention programmes targeting card-present fraud have pushed criminals onto the internet. To protect themselves, businesses have strengthened their card-not-present fraud programmes and reduced their risk appetite. The result? Perfectly legitimate transactions are regularly being declined. You can overcome this issue by looking beyond traditional methods of identity verification.
In the US alone, one in six (15%) of all legitimate cardholders experienced at least one decline because of suspected fraud, resulting in a total of $118 billion declined.
These declines are often due to a lack of insight into the identity of the customer, especially when it comes to cross-border transactions and younger consumers. One way to overcome this issue is to look beyond traditional methods of identity verification.
- It's instant, unlike time-consuming manual reviews.
- It's seamless, and by keeping customers in the same environment you'll reduce abandonment rates.
- It's comprehensive, offering coverage of all demographics, including the younger consumers who are driving eCommerce growth.
How it Works
How it Works
Transaction flagged as high-risk
High-risk transactions are pushed through an additional Veridu verification step.
Veridu online verification
The customer signs in to a variety of their social and online accounts. Veridu uses the information contained in these accounts to verify their identity
Accept more transactions
Customers that pass the verification can continue with the transaction.