Can eBillme really help consumers and merchants battle credit card fraud?
Forzley: In the offline world, the buyer and the seller see each other, so the seller verifies the identity of the buyer before a purchase. In the online world, the buyer and the seller do not see each other, so the buyer is looking for ways to do a transaction without giving any personal financial information to the merchant.The merchant is looking for ways to know a lot more about the consumer so the merchant can verify he is dealing with the right cardholder. That is where eBillme comes in. It can help both the consumer and the merchant. The consumers are providing no information to the merchant, just their email address, to complete the transaction, and they then log into their bank and pay the merchant the same way they pay their phone bill or their electric bill. The merchant is authenticating the consumer via the banks. We have a situation where the merchant and the consumer are both known to their banking organization, and the money moves bank to bank.
Related Questions
- What anti-fraud measures does Malusa INternational LLC use in order to help protect against credit card fraud and customer fraud?
- The incidence of fraud perpetrated by online merchants against consumers is fairly rare - how would they get away with it?
- are credit card companies doing enough to protect consumers, merchants and banks from fraud?
