Intellicheck’s Retail ID Online is showing impressive results curbing online fraud and increasing customer engagement
Impressive pilot results fueling interest and adoption of innovative technology aolution
JERICHO, NY (October 2, 2017) — Intellicheck, Inc. (NYSE American:IDN), a leader in threat identification, identity authentication, verification and validation technology solutions, today announced that a series of pilots with national retail outlets have sparked an increase in adoption of Intellicheck’s Retail ID Online™. Nationally recognized department, furniture, and jewelry chain stores and a top five domestic and international U.S. banking and financial services company are among a rapidly growing group of clients who now use Retail ID Online. The driving force behind this product adoption movement is due to measurable pilot results that demonstrated Retail ID Online’s robust capabilities in deterring online fraud while enhancing customer confidence and engagement.
“The exceptional response to Retail ID Online highlights the important contributions this cutting-edge technology solution is making in the retail industry. We designed Retail ID Online to make an immediate and dramatic impact in curtailing online retail fraud, with strong focus on the customer experience. As a result, the process is quick, simple and non-intrusive. Our goal was to strike the important balance between minimizing customer transaction abandonment while, at the same time, minimizing online fraud. To achieve this critical balance of efficacy and simplicity, our staff worked closely with our client base to define, develop, test and deliver Retail ID earlier this year. Since our first pilot, Retail ID Online has become the go-to technology solution, selected in head-to-head competition, as the standard for reducing incidents of online fraud. We believe this solution is the answer retailers and consumers want and need. We fully expect continued adoption of Retail ID Online as an ever-increasing number of retailers see this potent fraud deterrent solution in action,” said Intellicheck CEO Dr. William Roof.
Fraudulent transactions in the retail and banking markets continue to be a very severe problem. Recent studies show new account fraud nearly doubled in the last year and 52% of retailers are reporting their card not present losses are continuing to multiply at an alarming rate. According to Javelin consulting firm, the total loss in fraudulent e-commerce transactions will jump to nearly $19 billion in 2018. Losses are proving very costly to retailers in terms of revenue and customer confidence. A consumer impact study found that 56% of cardholders decrease online shopping, reduce payment card usage, and close payment card accounts as a result of experiencing fraud. Additionally, 78% of online shoppers participating in the study reported they want more protection for their payment card when shopping online.
About Intellicheck Mobilisa
Intellicheck Mobilisa is an industry leader in identity authentication, verification and validation solutions in both the U.S. and Mexico. The Company holds 24 patents, including many patents pertaining to identification technology. Its identity solutions support customers in the national defense, law enforcement, retail, hospitality and financial markets. The Company's products scan, authenticate and analyze componentsof 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 populate forms as well as provide safety, security and efficiencies throughout these markets. For more information regarding Intellicheck's innovative products, please visit www.intellicheck.com.
