TeleCheck Live
Verify Service
®
SM
Large merchants who want to avoid the costs of full-service check verification
have traditionally maintained their own databases or used day-old, distributed
negative files. The internal solutions have become less effective with the increased
sophistication and frequency of fraud. With the TeleCheck® Live VerifySM solution,
merchants have access to one of the most current and comprehensive check-writer
negative and activity databases, and risk management tools to protect against
fraud and minimize returned checks.
The Challenge
How It Works
Fraudulent check writing increasingly confronts large
At the point-of-sale, merchants send check transactions
merchants, and solutions at the point-of-sale have been
to TeleCheck for verification. During the authorization
either antiquated, unable to adapt to the changing
process, TeleCheck filters the check-writer transaction
nature of fraud, or for some merchants, too costly. Doing
information through the TeleCheck databases and risk
it yourself in the form of maintaining databases can be
management tools to evaluate the check writer’s history.
expensive and time-consuming to manage, expending
internal resources that could be used to support other
areas of your business. Also, continuing to improve
the functionality and coverage of the databases to
combat the new dimensions of fraud can be a burden
on your organization.
The Solution
The TeleCheck Live Verify service provides merchants
with dynamic, real-time negative and activity databases
for all transactions. Additionally, it uses a proprietary
switch that forwards higher-risk transactions to full-risk
management systems. The patent-pending TeleCheck
Live Verify service is the first hybrid solution of its kind
and is available for merchants that process a high
volume of transactions.
firstdata.com
A proprietary switch directs higher-risk transactions
through the advanced adaptive decisioning and
scoring system for full-risk management evaluation.
This intelligent switch helps maximize risk prevention
and minimize cost for merchants.
TeleCheck Live Verify Service
®
SM
Help Your Business
Features
JJIdentify and prevent fraud based on
JJIntelligent switch that selects the transactions that
real-time information
JJLower overall cost of check acceptance
JJMake cost-effective and timely decisions based
on more comprehensive, live data
JJApprove check writers that have had items
qualifiy for TeleCheck adaptive decisioning and
scoring evaluation
JJOptional enhanced real-time negative database that
evaluates negative check-writer information and
provides more accurate decisions
cleared for payment but who would normally
JJTraditional transaction-based risk systems replaced
be declined using the distributed database
with check-writer-based risk systems, using the
method of verification
customer’s entire check writing history across all
JJMeet compliance requirements using our Fair Credit
Reporting Act (FCRA) trained call center support
JJKeep current with the latest fraud-detection tools
with the ability to upgrade as needed
JJImprove merchant infrastructure and
operational expenses
merchants to assess risk of acceptance
JJAccess to Early Warning® Services, Primary Payment
System’s DEPOSIT CHEK® and STAR® Network’s
STAR CHEK® Alert services
JJSupport for check approval and handling processes,
such as a FCRA-trained call center and optional
collection services
Help Your Customers
JJExperience an easy and simple checkout
JJOngoing consulting services for suggested
changes to authorization process and check
processing program
process with quick approvals—no manager
needed to review and call a bank
JJReceive more accurate and timely decisions
based on real-time information to avoid declines
A Global Leader in Electronic Commerce
First Data powers the global economy by making it easy,
JJReduce the likelihood of identity theft
fast and secure for people and businesses around the
JJManage record keeping and easily balance
world to buy goods and services using virtually any form
their checking account
JJUtilize their payment method of choice
of payment. For over 40 years TeleCheck, a First Data
Company, has been a leading provider of paper and
electronic check services helping more than 375,000
businesses and financial institutions increase profitability,
reduce risk and streamline operations. Find out how our
expertise and insight can accelerate your business.
firstdata.com
©2008 First Data Corporation. All Rights Reserved.
All trademarks, service marks and trade names referenced
in this material are the property of their respective owners.
FD 1136 0408
For more information, contact your
First Data Sales Representative
or visit firstdata.com.