Partnership provides faster and more efficient way to verify new mobile merchant accounts
Online PR News – 04-April-2012 – Atlanta, GA – North American Bancard, provider of the payment solution Pay Anywhere, and IDology, a leading identity verification provider, today announced a partnership to better serve the mobile payment industry. North American Bancard is using IDology’s identity proofing solutions within its Pay Anywhere mobile payment application to verify new merchant accounts.
“The mobile merchant market is really just emerging. We wanted an identity verification solution that was flexible enough to change with the needs of the market, and scalable enough to accommodate the fast growth within it,” said Richard Parrott, Vice President of Risk and Underwriting at North American Bancard. “IDology’s solution has exceeded our expectations. Not only are we able to keep our business safe from fraud, we can quickly and efficiently approve more mobile merchants while keeping pace with the fast demand.”
North American Bancard process more than $10 billion worth of electronic transactions annually for more than 100,000 merchants nationwide. Pay Anywhere is a payment solution offering the flexibility and freedom to accept credit card payments anytime and anywhere via a mobile device. The Pay Anywhere app and card reader accessory were developed to offer a range of payment options for non-profit organization, businesses and more. IDology’s services are integrated with Pay Anywhere’s mobile payment application to validate the identity of new merchants opening an account when you can’t see or check their ID in person. IDology’s ExpectID IQ dynamically generates out-of-wallet questions in real-time to verify someone is who they say they are. Using IDology North American Bancard is able to prevent fraud and process more approvals in less time.
“As the mobile payment industry continues to gain momentum, it is critical payment processors are taking the proper steps to prevent fraud,” said John Dancu, CEO of IDology. “Approving the wrong person is both costly and time consuming. Our partnership with North American Bancard helps reduce their time and effort while improving their bottom line through lower costs and more approvals.”
About North American Bancard
Headquartered in Troy, Michigan, North American Bancard is a multi-faceted payment solutions provider dedicated to providing the latest technology as well as the highest service levels to non-profit organization and businesses of all sizes with round-the-clock technical and customer service support. As a registered MSP/ISO since 1992, North American Bancard provides its clients with a full suite of products and services. North American Bancard processes more than $12 billion in electronic transactions annually for more than 135,000 merchants nationwide. For more information, visit www.nabancard.com.
About IDology, Inc.
IDology, Inc. provides real-time technology solutions that verify an individual's identity and age for anyone conducting business in consumer-not-present environments to help drive revenue, decrease costs, prevent fraud and meet compliance regulations. Founded in 2003, IDology is the only provider to offer an on-demand change management tool that allows client business-unit managers to control the entire proofing process, including within an integrated solution, without having to rely on internal IT resources or contact IDology's customer service. For more information, visit www.idology.com or call 866-520-1234.