Third Party Verification Services – How To Protect Your Business Online
The internet is a dangerous place today as everyone is well aware. So how do you protect your business from fraudulent transactions and identity theft transactions? Third party verification services offer you the ability to do just that and more.
It is crucial that organizations have an online presence today. If your business cannot process transactions online, the customers are likely to go somewhere else that can. In the beginning, an organization could use “CAPTCHA” processing to help stop the use of “bots” on the internet for transaction processing. A “bot” can’t get those barely readable numbers and/or words right no matter how smart they are.
For a while this worked well. Today however the hackers and spammers have outsmarted that process and newer, more difficult processes are necessary. That’s where third party verification will be a great help. Using this type of security process, a business uses another program service that sends a text or makes a phone call to the person placing the order or requesting the services.
Included in this text or phone call will be a special code that has to be entered into the site before the process can continue, whether it is placing an order or applying for a new credit card. This offers you the ability to verify the identity of the person automatically because the phone call or text is sent to the person’s listed phone number.
Use of this type of service has saved many large organizations thousands of dollars in lost sales. If you consider what happens when an order is placed, you can easily imagine how many products and services have been provided to fraudulent customers basically for free. And I say for free because eventually the money that was supposed to go to the business will not be sent.
When a person’s identity is stolen or someone uses their credit card without permission, the owner of the credit card can dispute the charges. When this happens, the payment to the business is not made. Once it is proven that the transaction was fraudulent, the money is gone forever…and so are the products and/or services.
There are many ways that an organization can use third party verification services to protect their business online or even offline. By verifying the person making the purchase is truly the person named on the credit card or order form, you will find that you have fewer losses attributable to this type of action.
About the Author
Caroline Prosser is Internet entrepreneur specializing in reselling used items through Craigslist and other online directories. She lives in Ann Arbor Michigan with her husband and two beautiful children. Caroline sometimes supplements her income by lecturing and writing articles about how to run a successful online business.
This is her first article about third party verification.
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