Circuit City Implements Verification Services to Fight Credit Card Fraud
Circuit City Stores use On-Demand Verification services from TARGUSinfo to help reduce chargeback penalties and payment fraud. The on-demand services automatically evaluate data that customers supply in Web and call-center 'card-not-present' purchases and instantly give Circuit City a contact quality rating for each proposed transaction. The rating is based upon whether a customer's name, address and phone number are accurate and all belong to the same person.
Circuit City can now automate approval of lower-risk transactions and intensify focus on higher-risk ones to reduce chargebacks or bank penalties for fraudulent purchases. Previously, Circuit City used On-Demand Verification services as part of its manual process for agents' order reviews, and the performance indicated enough confidence in the services that Circuit City decided to make them part of their automated processes.
"With our Web and call-center sales increasing, we need to move a lot more transactions with the same staff," says Margy Hazelton, senior manager, payments and fraud, Circuit City. "On-Demand Verification services let us confidently and automatically process authentic transactions, leaving us a clearer view of the potentially fraudulent ones - the needles in the haystack. TARGUSinfo was able to give us the simple, powerful and affordable solution we were looking for."
"With our Web and call-center sales increasing, we need to move a lot more transactions with the same staff," says Margy Hazelton, senior manager, payments and fraud, Circuit City. "On-Demand Verification services let us confidently and automatically process authentic transactions, leaving us a clearer view of the potentially fraudulent ones - the needles in the haystack. TARGUSinfo was able to give us the simple, powerful and affordable solution we were looking for."