To the average consumer, an address may be no more than the information used to designate the location of living or retail space, most often for travel purposes and for the sending and receiving of mail. And to a certain extent, it may be of no greater importance to business owners who operate brick-and-mortar locations. But for those whose primary business operations are conducted via the Internet, an accurate address can act as the foundation for a successful and profitable transaction.
As the online marketplace continues to grow, online id verification Australia so does the critical importance of genuine and accurate residence information. Beyond being essential to the successful delivery of products, the accuracy of billing and the completion of each transaction, residence information can also play an important role in confirming the identity of otherwise anonymous online customers. Potentially fraudulent transactions can be identified and flagged or terminated depending upon the relevance of provided residence information; in some cases, residence verification is mandatory for policy compliance. In 2010, businesses should consider adding residence verification to their already established security procedures.
How Does Residence Verification Work?
Any residence verification product will compare submitted consumer information with a reliable collection of data to verify accuracy, alerting the owner if a discrepancy is found. Depending on the features of the service, an address verification product may accumulate a report of residence history for the consumer in question, or it may compare the source to the address information in your business’ contacts in order to keep them up to date. Some publishers of address verification tools can install additional functionality in order to meet the specific needs of your business.
What are the Applications of Residence Verification?
Any business will see a certain amount of return on investment in residence verification measures, but the extent of the return depends largely on the structure of the business in question. Type of product, target consumers, methods of payment accepted, compliance standards and other business details factor into the value of a residence verification tool as it pertains to your operation. If you’re unsure about the value a residence verification product poses to your business, speak to a representative of the product of your choice for a detailed evaluation.
Electronic Verification Systems, an industry leader with more than 10 years of data provision and fraud prevention experience, specializes in integrating identity verification and authentication procedures into established business security structures. We can help you implement a comprehensive age verification program that blends seamlessly into the end-user experience for the very best in security and customer satisfaction.
