Trulioo’s Global Identity Verification Solution Helps Reduce Fraud for Cross-Border Commerce
Trulioo, the leading global identity verification company, today announced that its flagship identity verification solution, GlobalGateway, has won the 2016 Card-Not-Present (CNP) Award in the ‘Best Identity Verification and Authentication Solution’ category, a new category introduced this year.
“As card-not-present payments become increasingly integrated into mobile and omnichannel strategies, the complexity has opened the door even wider for bad actors seeking to steal personal information from consumers and leverage it for fraud,” said Steve Casco, founder of CardNotPresent.com and the CNP Expo. “Our new categories this year—and the number of companies that entered in those categories—reflect the response of an entire industry to the threats facing CNP merchants. The CNP Awards continue to represent the very best the world has to offer supporting card-not-present payments.”
Trulioo was selected by a panel of industry judges and is the first to be named the winner of the 2016 CNP Award for Best Identity Verification and Authentication Solution. The new category emphasizes the importance merchants are now placing on customer identity, both in how it can reduce fraudulent chargeback losses specifically related to cross-border transactions, but also in knowing who the merchant is dealing with online.
“Cross-border online commerce continues to grow exponentially and merchants are increasingly turning to real-time global customer verification to further drive revenue and protect their bottom line,” said Jon Jones, President of Trulioo. “In today’s digital world, Knowing Your Customer (KYC) isn’t just for banks and financial services companies anymore. With reliable data and advanced technology, you can automate ID verification during customer registration or checkout to further reduce chargeback fraud and prevent high risk country-to-country channels from being shut down“.
GlobalGateway provides secure access to more than 145 global data sources from over 45 countries to instantly verify 4 billion consumers through a single API integration. By comparing submitted transaction information against information collected and hosted by trusted and reliable data sources, GlobalGateway offers transparent identity verification capabilities for reducing fraud and satisfying regulatory compliance requirements.