Experian, a provider of credit-reporting and other financial database services, has launched Cardholder Verification, its first suit of fraud-prevention software for e-retailers and call centers. The suite uses Experian’s data on 215 million consumers. "This is our first product dedicated to online merchants," a spokeswoman says.
Cardholder Verification, which is also designed for use by an online retailer’s payment processor, provides real-time verification of information such as a cardholder’s personal identification, bill-to and ship-to addresses and e-mail address. Retailers and other users of the system can access it with a browser or receive automated alerts regarding potentially high-risk transactions, the spokeswoman says. Alerts are sent for high-risk cardholders, closed accounts and for cards that have been reported lost or stolen.
Experian charges a one-time set-up fee of $2,500, plus monthly fees ranging from 16 to 65 cents per transaction, depending on the level of service and the volume of transactions, the spokeswoman says.
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