How Does TeleCheck Work?
The basic Verification service quickly separates good and bad check risks using TeleCheck’s negative database. This database comprises more than 51 million bad check records, enabling merchants to make informed, reliable decisions regarding each check their business sees. • Reduces the risk of fraudulent transactions • Enables the adoption of a more liberal check acceptance policy • Enables customization of verification services to meet your business needs • Permits use of national databases with real-time information The Verification with Risk Management service uses both TeleCheck’s check writer activity and negative databases along with its risk management system to identify not only bad check writing risks, but also good ones. The risk management service utilizes TeleCheck’s risk and predictive-modeling systems to analyze over 30 variables to predict the probability of a check being good. These assessment tools include regression modeling, neural networks, & decision tree analysis.
