Address Verification and Fraud Prevention

Collecting a complete and verified address at the point of entry is important for reasons ranging from guaranteed shipping, reducing returned mail and increasing member services. Internet retailers in particular however are now beginning to use it for reasons other than the obvious.

Fraud prevention has been has been an industry concern for awhile now. As technology advances, so do criminals and consumers who set up fraudulent accounts in order to over bid, over order, or scam retailers. Typically, internet retailers have put certain software in place to reduce fraud. However, many are now looking towards address verification to help solve the problem.

We’re seeing a trend of companies turning to address verification vendors to help put a stop to the problem before it starts.

Taking the example of online retailers who use a “bidding” method to buy products, fraud prevention comes into play not only when making sure a consumer isn’t able to place more than one bid, but also maintaining the integrity of the website. People tend to get frustrated if they take the time to bid on an item, yet never win seem to win. This can result in consumer frustration and drop off. Capturing a verified physical address can help solve this problem by reducing duplicate accounts ensuring that a consumer is only able to bid once.

Interested in learning more about address verification services? View the latest offerings from Experian QAS.