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Retail: Credit Card Applications,
Fraud Prevention and General Product Use
ID-Check FastForm for the Retail Market is a software application
that works by scanning the bar code or magnetic strip on the back of a driver’s
license or Government ID then automating this data into usable elements, such as
name and address. The data then automatically populates the fields to the credit
application form, taking only 1 second. Our technology can be implemented at the
POS or in stand-alone kiosks.
With the changing times and identity theft issues, individuals are less willing
to hold up the checkout line to apply for credit, sharing their personal information
at the register with a store associate. Our technology allows individuals to apply
for instant credit, in a non-invasive way, and get an answer back, all within a
minute. Our technology has increased the number of applications processed by 12
times! More credit extended to individuals equals more spending power and higher
revenues for the store.
A simple scan replaces over 200 key strokes on a keyboard and eliminates all of
the potential undetected errors. Statistics show that an undetected error occurs
every 500 keystrokes. Eliminate data entry error, securely process credit card applications
and significantly increase the number of credit card applications being processed
with our patented ID technology.
ID-Check for the Return and Exchange area is the same technology
of swiping a drivers license, but the application is slightly different. Because
our software validates that the ID is real, not fake, our technology acts as a deterrent
for fraudulent return activity. Studies have shown that by implementing our technology
in the return and exchange area of department stores located in 4 of the nation’s
highest fraud rate cities, fraudulent activity decreased between 47% - 100%. This
allows the honest customers to have better service.
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