Remote shopping is evolving with time, and with its progression, the rate of fraudulent attacks is also expanding. It was recorded in 2022 that $41 billion were lost because of remote shopping frauds and it is increasing over time. Moreover, Clients are an essential part of a brand’s honor in society therefore, to establish a successful business it is mandatory to implement better customer service. It will not only boost the business’s future growth but also save the business from reputational damage. To control the growing online scams and support clients, it is necessary to have online address verification systems.
To Validate address is a necessary action that not only paves businesses’ way for future victories but they are also saving themselves from hefty penalties. Furthermore, address verification is a must-have for all legal authorities to secure them from fraud-related activities. This blog will talk about the steps of implementing address verification within e-commerce businesses.
Address Verification System
Online address verification is the process of checking the authenticity of the customers before making any links with them. Verification of address is an essential part of most legal businesses because it secures them from fraudulent attacks. This advanced verification is a challenging tool for all the scammers who are inventing new things to deceive people.
Method of Verifying an Address
Online address verification completes its procedure within four steps including:
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Submission of Image
The address identification process begins with the submission of the user’s original image which is then compared with their identity documents to verify whether they are authentic or not.
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Submission of Residential Details
After the process of submitting images, potential customers are asked to submit their important details within their identity documents including name, postal code, phone number, both personal and business residential area.
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Validation of Documents
After submitting all the required information, the system automatically starts verifying it according to the given information by the company from which the clients are ordering products.
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Confirmation Call
The system automatically validates the customer’s identity if it fulfills the requirements of the company. After the address verify, businesses send a confirmation message for the desired product clients want from the company. Some business through their online address verification system also indicates the accurate delivery time within the confirmation call from which the customers can conveniently track their order.
Essentials of Address Verification
Address verification is an effective and quick process through which companies can effortlessly minimize criminal attacks. The following are the things that are necessary when a business is validating the residential details of a customer:
- The customer’s complete name must be mentioned on the document otherwise the system will never proceed with the form further.
- The system checks for the authenticity of the document and whether the client is who they are pretending to be.
- Every company has set a specific pattern for entering the residential address. The system checks whether the mentioned address is according to that format or not.
- The online address verification system validates the residential documents, meanwhile, it also finds out about the clarity of the submitted forms. It allows businesses with diverse chances through which they can handle the forged documents.
- The system utilizes the advanced facility of optical character recognition (OCR), through which it compares the mentioned address with the given framework which alarms the businesses about suspicious activities.
Address Verification: A Challenging Tool for Scammers
Online address verification is a life-saving tool for all businesses that want to fight with the imposters. In most cases, scammers ask for a chargeback and claim that they didn’t receive their parcel. Legal companies with good honor in society can easily fall for this scam to secure their brand image. Address verification with its advanced artificial intelligence and machine learning facilities through which companies can conveniently verify their clients and save them from higher risks of fraudulent activities. It also assists businesses in saving their extra cost on employees because address identifiers can complete the process within a matter of seconds.
Conclusion
Address verification plays a vital role in e-commerce businesses that want to achieve their targeted goals. Address identification helps legal online businesses in minimizing the higher risks of fraudulent activities. It is a fast and authentic service on which diverse companies are relying for their better future growth. Moreover, address verification systems assist businesses in better supporting their customers. This process of verification enhances the credibility of authentic businesses and it creates a trusted relationship between their clients.