In addition to account number validation, proprietary fraud control measures, and Internet and payment data security, Electracash continues to invest in new technologies to enhance merchant and consumer security for Internet check usage. Electracash's User Authentication service helps protect merchants and consumers from online fraud. This service can be provided as an add-on feature for merchants. Electracash's User Authentication Service checks the identity of consumers, reducing online merchants' risk of buyers using a stolen account number.
How it Works
The main purpose of Electracash’s user authentication service is to provide a means of confirming an individual user is who he claims to be when attempting to make a purchase at a merchant’s web site. Electracash employs basic personal data such as the customer’s name, address, phone number, date of birth (DOB) and the last four digits of the customer’s Social Security Number, and matches the entries with the individual’s personal data from various public sources.
While the results are not guaranteed – it is possible for an individual to know someone else’s birth date and Social Security Number – these services act as a deterrent to fraud. The authentication methodology occurs in real-time, and, if the data do not match public records, the transaction is rejected prior to submission through the payment network, saving the merchant money on processing and returns-related costs.
Features
- Private and non-intrusive, enacted when a buyer chooses to use their checking account over the Internet to pay bills or make purchases.
- Employs common, yet personal data, such as birth date and partial Social Security number data along with other personal information required at online storefronts.
- Authenticates user data in real-time.
- Employed solely for user verification purposes; Electracash protects and never shares this information.
- Easy to implement: if the merchant is using Managed Services, Electracash handles everything from the hosting pay page to the delivering the pay outs; if the merchant is using Gateway Services, simple data fields are provided and clearly documented in the API.
For additional information about these and other Electracash services, please contact an Electracash Sales Representative.
