Online shopping offers customers the convenience of purchasing their favorite products from their home, their office, or practically anywhere in the world. This has created a boon for eCommerce and invited new threats for online merchants. With limited access to customer data, it is incredibly difficult for merchants to confirm the identity of their online users. When a transaction is deemed risky and flagged, manual review teams are often faced with the burden of going through these orders one by one, a process that is not only time consuming but expensive. If businesses want to automate this expensive process they need access to accurate data that enables them to efficiently spot fraudulent transactions and increase conversion of legitimate orders.
This is a problem TeleSign has seen for years — fraudsters scamming different sites simply because they can. TeleSign created PhoneID Contact in response to these pains. PhoneID Contact, the newest member of the PhoneID family, delivers name and address, phone type, registration location information and an auto-corrected phone number in real time.
Real-time results are essential for merchants who must combat fraud or risk losing revenue to fraudsters. To block more fraud TeleSign offers additional levels of verification to automate the fraud process, such as pairing TeleSign Verify with PhoneID Contact. This combination of both products not only delivers customer contact details, but it also ensures the customer is in fact linked to the phone number they used during the transaction.
These automated tools streamline legitimate transactions and decrease the number of expensive manual reviews, resulting in an increase in bottom-line cost savings.