• Financial Services
  • Consumer Deposits
  • Consumer Lending
  • Human Resources
  • Securities
• Retail Payments

There were 8.10 billion checks authorized in the U.S. in 2007, according to The Nilson Report of 2008. Of the total authorized checks, 7.43 billion were for check verification and 672.9 million were for check guarantee.

Retail Payments

Check Verification and Fraud Prevention

Companies that deliver ongoing protection, without causing undue disruption to a merchant’s business, have a distinct competitive advantage. With effective risk tools in place, processors can avoid inadvertently passing along excessive check and ACH losses to their customers. A merchant that is made aware of a high-risk item may decide to promote an alternate, lower-risk payment method for a particular transaction. Extending fraud prevention in this manner helps to strengthen relations between merchant and consumer as well as processor and merchant.

Early Warning Services assists payment processors and check acceptance companies by providing real-time verification against high-risk accounts and identifying items at the point-of-sale with a high likelihood of returning unpaid.

For more information on how Early Warning can help with fraud in retail payments, please see PAYMENT CHEK® service or contact us.