COSTA MESA, CA – Fraud continues to be an expensive problem for online merchants, with a unique set of challenges compounded by the card-not-present environment, chargeback liability issues, and the consumer’s need for an easy, fast and secure transaction. To help merchants overcome some of these issues, Experian®, a global information solutions provider, today launched Cardholder Verification, a powerful new suite of fraud prevention solutions for on-line merchants, call centers and payment processors. This powerful new solution uses the power of Experian’s unique data assets to validate and verify the identity of the consumer initiating an online transaction, and confirms that the consumer is truly the owner of the credit card being used.
“In the card-not-present environment, it is imperative that merchants know their customers,” said Rick Gallagher, president of Experian Fraud Solutions. “Cardholder Verification allows merchants to be confident in the identity of the consumers purchasing on their site, as well as the validity of the credit card being used. All this translates to a positive customer experience and the potential for increased sales.”
Cardholder Verification identifies potentially high-risk transactions prior to authorization, preventing fraud losses before they occur. It does this in real-time, in an online process that utilizes Experian’s credit and noncredit verification databases with information on 215 million consumers. The information verified includes identification information, as well as bill to/ship-to, e-mail address and IP addresses. Alerts are sent for high risk cardholders, closed accounts, and lost or stolen credit cards.
Cardholder Verification offers a flexible solution so that in a single, instant inquiry that is transparent to the consumer, clients can choose from the following automated service options:
- Consumer verification only
- Credit card verification only
- Consumer verification along with credit card verification
- Online interactive challenge questions with the consumer
Cardholder Verification integrates into a client’s order infrastructure and leverages data and analytical capabilities.
About Experian
Experian® is a global leader in providing information solutions to organizations and consumers. It helps organizations find, develop and manage profitable customer relationships by providing information, decision-making solutions and processing services. It empowers consumers to understand, manage and protect their personal information and assets. Experian works with more than 40,000 clients across diverse industries, including financial services, telecommunications, health care, insurance, retail and catalog, automotive, manufacturing, leisure, utilities, property, e-commerce and government. Experian is a subsidiary of GUS plc and has headquarters in Nottingham, UK, and Costa Mesa, California. Its 13,000 people support clients in more than 60 countries. Annual sales exceed $2.3 billion.
For more information, visit the company’s web site on www.experian.com.
