Revolutionary credit card identification tool enhances EVS fraud protection bundle
Electronic Verification Systems (EVS) has seen a steady decrease in its client’s chargebacks since the Oct. 2022 launch of AssurePay, a proactive solution that verifies consumer credit card information at the beginning of the payment process, instead of while it is being held for processing. AssurePay is the seventh fraud protection tool that EVS has launched on its platform, allowing brands to easily reduce false declines, fraud, and operating expenses while increasing trust in transactions with zero added friction.
“AssurePay is a revolutionary product that offers a proactive approach to chargeback prevention and credit card fraud prevention,” said EVS President Eric Knapp. “Since the launch, our clients have seen upwards of a six basis points decrease in their chargebacks. It quickly identified good customers and protects your business from bad actors and costly chargebacks.”
Latest Fintech News: Corus Entertainment Selects Esker to Automate Full Procure-to-Pay Cycle
AssurePay’s quality processing helps merchants and payment processors prevent expensive manual reviews. With this tool, businesses can increase acceptance rates, reduce operation costs by preventing fraudulent credit card use, and help make better risk decisions.
Key features include multi-source credit card verification to help verify card ownership with consumer data; account creation and protection allowing businesses to easily create user accounts, facilitate guest accounts and prevent account takeovers; and fraud detection, instantly identifying and flagging fraudsters to protect companies and customers.
Latest Fintech News: Fintel Connect and Cheese Partner to Expand Access to Credit for Underserved Americans
For an even more robust chargeback and fraud prevention solution, EVS allows businesses to bundle AssurePay with Consumer+, an identity verification product that verifies and authenticates the individual as being a real person and who they claim to be.
As with other EVS products, AssurePay can be utilized from within the IdentiFlo Management Portal or seamlessly integrated with existing systems and websites through an available API.
Latest Fintech News: Greenwood Acquires Kinly to Bring Together Two of The Largest Black-Owned Fintechs
[To share your insights with us, please write to sghosh@martechseries.com]
