Equifax ID Scan Verify Identities
Equifax ID scan verifies identities through the Equifax Verify, Authenticate, & Link Identities. The Equifax Verify, Authenticate, & Link Identities are verification, authentication, and linking tools that help businesses establish trust in the identities of their consumers. Consumers and businesses are provided with dual protection brought by the digital authentication from Equifax Verify, Authenticate, & Link Identities. Equifax Verify, Authenticate, & Link Identities features products for verifying consumers’ identities like the Equifax Account Verification. The Equifax Account Verification assists businesses by minimizing risk by matching a consumer’s bank account or credit card used for payments with their Personal Identifiable Information (PII) data. The PII data is essential in verifying the identity of the consumer when cross-referenced with the valid payment form related to the consumer identity.
The Equifax Account Verification also can confirm in real-time that commercial bank account details presented by businesses are accurate and associated with those businesses. Businesses from various industries like financial services, telecommunication & digital media, retailers, auto dealers & lenders, insurance, and rental property management can benefit from using the Equifax Account Verification.
Equifax Account Verification benefits businesses by assisting in reducing the risk of chargebacks for card-not-present (CNP) activity by validating the linkage of the consumer’s identity with the credit card or bank account information. Equifax Account Verification acts as an authorized user when the consumer is not present.
Another benefit of Equifax Account Verification is real-time verification. Real-time verification helps in expediting and streamline the payment process before payments are accepted. Equifax Account Verification also gives consumers flexibility in choosing a credit card or bank account for payment options.
Equifax Verify, Authenticate, & Link Identities features another product for verifying business identities through Equifax Business Identity Reports. Equifax Business Identity Reports help in verifying the existence of a business and confirming key business details. Verifying the existence of a business and confirming key business details are essential in reducing fraud and financial risk for businesses, as well as facilitating compliance.
Equifax Business Identity Reports are useful for risk officers for validating and onboarding more commercial prospects and compliance officers for complying with a variety of Know Your Customer (KYC) regulations. Equifax Business Identity Reports help businesses in confirming more commercial prospects, customers, and vendors by receiving data on businesses of any size. Businesses of any size can utilize Equifax Business Identity Reports for business identity verification, Tax ID verification, fraud detection, regulatory compliance such as KYC, due diligence, and low-exposure risk assessment decisions.