Internet payment processor Electracash has launched two new fraud-reduction services for check payments online.
The User Authentication Service cuts the online merchant's risk of buyers getting hold of someone else's checking account without authorization, Electracash said, while the Age Verification Service lets the Net merchant protect minors from age-restricted content and merchandise, like adult entertainment, while shielding the business from possible liability.
“Our Age Verification and User Authentication services are aimed at reducing risk to online eCheck merchants," said Electracash chief executive Lee Falls announcing the new services.
"Accepting eChecks enables merchants to capture online sales from the 89 million US households that have a checking account, including the approximately 10 million that do not have a credit card," Falls continued. "By helping merchants ensure their customers are who they say they are, Electracash can provide additional protection for both merchants and consumers using eChecks.”
The company said the services are private, non-intrusive, and activated only when a buyer elects to use his or her checking account online to pay bills or buy goods and services. The two services use birth dates and Social Security numbers, validated in real time with other personal information required at online storefronts, the company continued, while the information is used only for verification and is never shared by Electracash.
For more information or to take advantage of these new verification services, visit Electracash.com, call (888) 310-7321, or contact [email protected].
