Online purchases made with stolen payment card information cost merchants millions of dollars in chargeback expenses, operational resources and time needed to resolve disputes, and lost revenue from unretrievable products. Such card-not-present transactions are risky and easy for bad actors to take advantage of. Zumigo helps businesses reduce chargeback risk by ensuring that the credit card and mobile phone belongs to the consumer. Zumigo compares the name and address as provided by the consumer to what’s on file with our authoritative sources, and that the mobile phone is in a location that makes sense for the transaction.
In addition to the verification listed above, Zumigo also compares the name and address provided by the consumer to the name and address on the credit card, to validate the payment method.