Experian launches cardholder verification service

Experian launches cardholder verification service

Credit referencing firm Experian has launched Cardholder Verification, a customer authentication service for online merchants and payment processors.

Experian says the service validates the identity of a consumer conducting card-not-present transactions.

The system utilises the vendor's credit and noncredit verification databases - which contain information on 215 million consumers - to identify high-risk transactions prior to payment authorisation.

The data verified includes identification information, as well as postal, e-mail and IP addresses. Alerts are sent for high risk cardholders, closed accounts and lost or stolen credit cards.

Rick Gallagher, president of Experian Fraud Solutions, says: "Cardholder Verification allows merchants to be confident in the identity of the consumers purchasing on their site, as well as the validity of the credit card being used."

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