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Digital Identity, Security & Online Fraud

miiCard, eMerchantPay to eliminate payments fraud

Friday 21 March 2014 | 09:33 AM CET

Online identity proofing service miiCard has joined forces with online payment provider eMerchantPay to offer its merchants a payment processing platform in combination with the miiCard service that eliminates payment fraud.

miiCard's identity verification solution enables merchants around the world to conduct transactions online while eliminating identity-related chargebacks and Card-Not-Present fraud. As a consumer-driven identity service, miiCard provides a verification experience before the payment process that establishes the customer's identity to the same level as an in-person photo ID check.

miiCard's Level of Assurance 3+ identity verification and authentication service leverages the authority and security inherent in a member's online financial accounts to prove identity to a passport or photo ID standard. The miiCard platform offers a range of features for financial service companies including identity proofing, personal data, multi-factor authentication, financial transaction data and security features available through simple API's and hosted services.

Identity theft costs businesses USD 21 billion annually with almost half of these fraudulent transactions occurring online and every USD 1 in fraud costing a business USD 3.10 in total loss.

miiCard is an online identity service (IDaaS) platform that establishes true trust online by guaranteeing an individual's identity to the level of an offline photo ID check. A member-driven service, based on the principles of Bring Your Own Identity, miiCard allows consumers to manage their digital identity. miiCard is available in ten countries and can verify over 350 million people.

eMerchantPay provides payment processing in multiple local payment methods with online payment processing and settlement available in over 40 worldwide currencies.
 

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