With chargebacks being a major problem for every e-commerce business model, myVirtualCard hopes its forthcoming real-time online customer verification system will bring that headache down to the nonexistent level.
Planned for launch during Internext August 1-3, myVirtualCard is designed as a cost-effective, secure transaction processor with a system gathering customer identification by way of telephone password identification. This, the company says, will let transactions and authorizations be finished "almost instantaneously," letting merchants do business with greatly reduced room for fraud.
Transaction security has proven a major burden for adult and other Internet businesses, since for long enough payments got processed just as long as a charge was authorized, regardless of hard verification. That can and too often does translate into chargebacks and lost revenues for merchants and processors alike, not to mention consumer losses if and when their credit accounts might be hijacked or abused.
"There is clearly a need in the marketplace for this solution," says myVirtualCard president Norton Burah, "and we want to aid every online merchant in the reduction of this problem."
For more information, visit myVirtualCard on the Web. Or, visit them at booth 1118 at Internext in Hollywood, Florida next month.
