Intellicheck Announces the Release of Retail ID Online to Curb Fraudulent Online Purchases
November 16 2016 - 8:13AM
Business Wire
Innovative Technology Solution Will Help Stop
Criminal Use Of Stolen IDs
Intellicheck Mobilisa, Inc. (NYSE MKT:IDN), a leader in threat
identification, identity authentication, verification and
validation technology solutions, today announced a new technology
solution that delivers online threat identification and fraud
prevention to the retail market. Retail ID Online™ presents a new
level of card-not-present transaction safety for consumers and
retailers, preventing a variety of fraudulent online retail
purchases. At the same time, this new technology solution will
provide a more engaging customer experience with an easy, quick
process that provides a new level of consumer confidence.
"In a way, Retail ID Online was designed for retailers, by
retailers. We designed and produced Retail ID Online with extensive
input from our retail customers who include some of the nation's
most successful, highly recognized brands," said Intellicheck CEO
Dr. William Roof. "As a result, Retail ID Online is simple to
deploy and to use, and especially effective given high personnel
turnover rates often seen in the retail industry." Roof noted, "We
believe our technology for identifying counterfeit IDs is superior.
We are confident retailers will embrace the advanced protection and
the unique features reflected in its design. Unlike other
anti-counterfeit technologies, the efficacy of all our Retail ID
products is not degraded by the ID card’s exposure to effects of
sunlight, washing machine cycles or the ID card’s normal, daily
wear and tear."
Retail ID Online integrates with the retailer’s online
purchasing website and seamlessly checks purchasers’ driver
licenses for authenticity. When the purchaser visits the retailer’s
website, the website will prompt the purchaser to snap an image of
the back side of their driver license, using either a smartphone
camera, laptop camera or other camera attached to the purchaser’s
computer. Running in the background, Intellicheck encrypts the
driver license image to strict military standards and matches the
image against authentic driver license formats from Intellicheck’s
proprietary “ID Check” database. Intellicheck has developed and
continuously enhanced ID Check over the past 20 years while working
closely with state departments of motor vehicles and other
jurisdictional authorities. Once the ID is authenticated, the
purchase can proceed and Intellicheck deletes the driver license
image and associated data. If the driver license is tagged as
counterfeit, the purchase process terminates and Intellicheck
maintains the counterfeit image for law enforcement and product
enhancement purposes.
The payments industry and retail merchants have been expecting a
substantial rise in online fraud. According to the Javelin
consulting firm, the total value of fraudulent e-commerce
transactions will jump from $10 billion in 2014 to nearly $19
billion in 2018. This presents a costly problem for retailers who
are faced with a significant impact on their bottom line and for
their customers. LexusNexus reports that fraudulent transactions
account for 1.47% of a retailer’s revenues, which means a retailer
reporting $40B in revenues, for example, may see losses due to
fraud approaching $600M. Consumers are calling for an increase in
protection as reflected in a recent consumer impact study, which
found 78% of online shoppers want more protection for their payment
cards when shopping online.
Dr. Roof said the rollout of Retail ID Online represents another
important milestone for the Company. "In our very first investor
presentation from our 2015 capital raise, we identified emerging
markets that we pledged to analyze and potentially include in our
use-of-funds plan. One of those emerging markets was the
curtailment of fraud in online retail. We have followed-through,
and the result is Retail ID Online." Retail pilots of the new
technology solution will begin this month.
In addition to nine patents pending, Intellicheck holds 25
patents including many pertaining to threat identification and
identification technology. The Company’s real-time identity
authentication and validation solutions support customers in the
retail, hospitality, national defense, law enforcement, and
financial markets. Intellicheck’s products scan, authenticate and
analyze components of identity documents including driver licenses,
military identification cards and other government forms of
identification containing magnetic stripe, barcode and smart chip
information. Once extracted from the identity card, the information
can be used to provide safety, security and efficiencies throughout
these markets.
About Intellicheck Mobilisa
Intellicheck Mobilisa is an industry leader in threat
identification, identity authentication, verification, and
validation systems. Our technology solutions make it possible for
our customers to enhance the safety and awareness of their
facilities and people, improve customer service, and increase
operational efficiencies. Founded in 1994, Intellicheck has grown
to serve dozens of Fortune 500 companies including retail and
financial industry clients, national defense clients at agencies,
major seaports, and military bases, police departments, and diverse
state and federal government agencies. For more information on
Intellicheck, please visit www.intellicheck.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161116005058/en/
Intellicheck Mobilisa, Inc.Media and Public Relations:Sharon
Schultz, 302-539-3747
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