Online identity proofing service miiCard has announced a cooperation with eMerchantPay, a trusted international payment processor, to offer its merchants a secure, compliant payment processing platform in combination with the miiCard service that eliminates payment fraud and enables higher value transactions.
miiCard’s patented identity verification solution, enables merchants around the world to conduct high value transactions purely online while eliminating identity-related chargebacks and Card Not Present fraud. As a consumer-driven identity service, miiCard provides a seamless, real-time verification experience before the payment process that establishes the customer’s identity to the same level as an in-person photo ID check.
Identity theft costs businesses $21 billion annually [Javelin Strategy & Research] with nearly half of these fraudulent transactions occurring online and every $1 in fraud costing a business $3.10 in total loss. In recent cases, miiCard has been proven to completely eliminate all instances of online identity fraud within the first 30-days of deployment.
Founded in 2002, the eMerchantPay Group is a privately held corporation headquartered in Europe with offices in Boca Raton, Fla., the United Kingdom and Sofia, Bulgaria.