Another prospective alternative to credit card transactions has appeared, with the launch this month of IDVSystem from CNWB.com, aimed toward attracting customers with less-than-perfect credit cards.
The system is set up to let Web merchants offer an alternative means of joining or buying for customers whose credit cards are declined, including a "loan" through IDV to enter the sire, CNWB said announcing the launch. The customer has only to verify his personal information, await a series of database verifications, and "if (he) meets IDV's standards, then a loan is extended to them."
IDV merchants get paid a fee for the initial IDVSystem click and then get paid when CNWB collects from the customer. "The IDVSystem," CNWB says, "allows merchants to actually convert their declined credit card transactions into cash, thus maximizing their revenue stream."
Marketing director Benet Garcia said this solution is the "next generation" in online transactions. "We understand firsthand the problems faced by online merchants," he said. "That is why we have built a solution that addresses them head on."
IDVSystem also performs age verification, and client merchants can integrate that into their Website as a stand-alone process or keep it as part of their IDVSystem suite, Garcia added.
For more information, including a test visit to the IDVSystem, visit CNWB.com on the Web or contact [email protected].
