Checking Account Owner Authentication: What are your options?

Checking Account Owner Authentication: What are your options?

Businesses whose customers are enrolled in a recurring payment plan are highly susceptible to fraudulence.

A Checking Account Owner Authentication Service (AOA) provides businesses a new fraud mitigation tool that provides real-time insight into whether the person or business whose check payment you want to accept or enroll in a recurring billing plan.

Imagine that a check verification service is akin to a password lock on one’s phone. Though a password offers some protection, a third party can discover and enter the phone owner’s password.

An AOA on the other hand would be comparable to a fingerprint lock, making the protection more intimate and secure.

Recent tech advances have now made a Checking Account Owner Authentication Service available. Real-time checking account verification and account owner authentication services can confirm a consumer or business owns the account and is authorized to transact.

Checking account owner authentication authenticates the consumer utilizing consumer data, matching profiles, and alternative data from multiple aggregation source. For a small one-time fee your business can significantly reduce the risk, added admin work time and improve customer experience.

Costs range from .80-$1.25 with higher volume clients getting custom quotes.

Contact AgilePayments now to learn more about Checking Account Owner Authentication Service