Electronic Identity Verification Reduces Ecommerce Fraud by 90%
Author | eIDV, FinTech, Identity Resolution, United Kingdom |
Ecommerce companies never seem to get ahead of sneaky fraudsters. Z1 Motorsports was no exception. Even after adopting an intensive 7-minute process to verify its customers, the company still suffered annual losses of $250,000, plus labor costs. Z1 realized something needed to be done – the automotive parts retailer called on Melissa for help with digital identity verification. After just one year, the etailer’s fraud and chargebacks were slashed by 90%, and verification time dropped to a minute! Read Z1’s story, here.