Intellicheck’s Retail ID Online is Showing Impressive Results Curbing Online Fraud and Increasing Customer Engagement

Impressive Pilot Results Fueling Interest and Adoption of Innovative Technology Solution

JERICHO, N.Y.--()--Intellicheck, Inc. (NYSE American:IDN), a leader in threat identification, identity authentication, verification and validation technology solutions, today announced that a series of pilots with national retail outlets have sparked an increase in adoption of Intellicheck’s Retail ID Online. Nationally recognized department, furniture, and jewelry chain stores and a top five domestic and international U.S. banking and financial services company are among a rapidly growing group of clients who now use Retail ID Online. The driving force behind this product adoption movement is due to measurable pilot results that demonstrated Retail ID Online’s robust capabilities in deterring online fraud while enhancing customer confidence and engagement.

“The exceptional response to Retail ID Online highlights the important contributions this cutting-edge technology solution is making in the retail industry. We designed Retail ID Online to make an immediate and dramatic impact in curtailing online retail fraud, with strong focus on the customer experience. As a result, the process is quick, simple and non-intrusive. Our goal was to strike the important balance between minimizing customer transaction abandonment while, at the same time, minimizing online fraud. To achieve this critical balance of efficacy and simplicity, our staff worked closely with our client base to define, develop, test and deliver Retail ID earlier this year. Since our first pilot, Retail ID Online has become the go-to technology solution, selected in head-to-head competition, as the standard for reducing incidents of online fraud. We believe this solution is the answer retailers and consumers want and need. We fully expect continued adoption of Retail ID Online as an ever-increasing number of retailers see this potent fraud deterrent solution in action,” said Intellicheck CEO Dr. William Roof.

Fraudulent transactions in the retail and banking markets continue to be a very severe problem. Recent studies show new account fraud nearly doubled in the last year and 52% of retailers are reporting their card not present losses are continuing to multiply at an alarming rate. According to Javelin consulting firm, the total loss in fraudulent e-commerce transactions will jump to nearly $19 billion in 2018. Losses are proving very costly to retailers in terms of revenue and customer confidence. A consumer impact study found that 56% of cardholders decrease online shopping, reduce payment card usage, and close payment card accounts as a result of experiencing fraud. Additionally, 78% of online shoppers participating in the study reported they want more protection for their payment card when shopping online.

Retail ID Online is a powerful fraud fighting solution with state-of-the-art features that reflect extensive input from Intellicheck’s retail clients who include some of the nation’s most successful, highly recognized brands. Retail ID Online integrates with the retailer’s online purchasing website and seamlessly checks purchasers’ driver licenses for authenticity. Simple, fast and easy to use, the solution guides a customer to capture images of their driver license using a smartphone or other mobile device. Retail ID Mobile encrypts the driver license image to strict standards and matches the image against authentic driver license formats. With real-time authentication, the purchase can proceed with confidence by the retailer or, if the driver license is flagged as counterfeit, the purchase process is terminated.

About Intellicheck NYSE American:IDN Intellicheck is the industry leader in technology solutions that are the antivirus to the epidemic of counterfeit IDs providing real-time threat identification and identification authentication. Our technology solutions make it possible for our clients to enhance the safety and awareness of their facilities and people, improve customer service, and increase operational efficiencies. Founded in 1994, Intellicheck has grown to serve dozens of Fortune 500 companies including retail and financial industry clients, police departments, national defense clients at agencies, major seaports, and military bases, and diverse state and federal government agencies. The Company holds 25 patents including many patents pertaining to identification technology. For more information on Intellicheck, visit http://www.intellicheck.com/ and follow Intellicheck on Twitter @IntellicheckIDN, on Instagram @IntellicheckIDN, on LinkedIn https://www.linkedin.com/company/intellicheck-inc, on Facebook https://www.facebook.com/intellicheckidn/, on YouTube https://www.youtube.com/user/ICMOBIL, and read Intellicheck’s latest blog post at http://intellicheckidn.com/.

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Statements in this news release about Intellicheck’s future expectations, including: the advantages of our products, future demand for Intellicheck’s existing and future products, whether revenue and other financial metrics will improve in future periods, whether Intellicheck will be able to execute its turn-around plan or whether successful execution of the plan will result in increased revenues, whether sales of our products will continue at historic levels or increase, whether brand value and market awareness will grow, whether the Company can leverage existing partnerships or enter into new ones, and all other statements in this release, other than historical facts, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These statements, which express management’s current views concerning future events, trends, contingencies or results, appear at various places in this website and use words like “anticipate,” “assume,” “believe,” “continue,” “estimate,” “expect,” “forecast,” “future,” “intend,” “plan,” “potential,” “predict,” “project,” “strategy,” “target” and similar terms, and future or conditional tense verbs like “could,” “may,” “might,” “should,” “will” and “would” are forward-looking statements within the meaning of the PSLRA. This statement is included for the express purpose of availing Intellicheck, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as market acceptance of Intellicheck’s products and the presently anticipated growth in the commercial adoption of the Company’s products and services, changing levels of demand for Intellicheck’s current and future products, Intellicheck’s ability to reduce or maintain expenses while increasing sales, customer results achieved using our products in both the short and long term, success of future research and development activities, Intellicheck’s ability to successfully manufacture, market and sell its products, Intellicheck’s ability to manufacture its products in sufficient quantities to meet demand within required delivery time periods while meeting its quality control standards, any delays or difficulties in the Company’s supply chain, the success of the Company’s sales and marketing efforts coupled with the typically long sales and implementation cycle for its products, Intellicheck’s ability to enforce its intellectual property rights, changes in laws and regulations applicable to the Company’s products, the Company’s continued ability to access government-provided data, the risks inherent in doing business with the government including audits and contract cancellations, liability resulting from any security breaches or product failure, and other risks detailed from time to time in Intellicheck’s reports filed with the SEC. We do not assume any obligation to update the forward-looking information.

Contacts

Intellicheck, Inc.
Media and Public Relations:
Sharon Schultz, 302-539-3747
or
Investor Relations:
Gar Jackson, 949-873-2789

Release Summary

Impressive pilot results curbing fraud and engaging customers for national retail outlets fuel adoption of Intellicheck’s Retail ID Online.

Social Media Profiles

Contacts

Intellicheck, Inc.
Media and Public Relations:
Sharon Schultz, 302-539-3747
or
Investor Relations:
Gar Jackson, 949-873-2789