MELVILLE, N.Y.--(BUSINESS WIRE)--Intellicheck (NYSE AMERICAN: IDN) President and CEO Bryan Lewis says the company’s state-of-the-art technology solutions, driven by Retail ID and Retail ID Online, saved retailers, consumers and financial institutions from millions of dollars in potential losses on Black Friday. Early data shows attempted fraudulent purchases at retailers using Intellicheck’s fraud detection solutions jumped across key retail categories during the Black Friday sales event compared to pre-Black Friday fraudulent purchase attempts. The company’s Retail ID SaaS solutions halted an attempted 77% increase in fraudulent purchase attempts at specialty retailers, a 57% increase in fraudulent transaction attempts at tool and equipment retailers and a 22% increase in fraudulent purchase attempts at furniture retailers. The new data comes as the problem of fake IDs, which power identity theft and fraud, again drew national attention with the U.S. Customs and Border Protection (CBP) announcement of the seizure of nearly 3,000 fake driver’s licenses and more than 3,100 blank card stocks used to create fake IDs.
Retail ID and Retail ID Online provide real-time identification authentication that prevents fraudsters from using stolen information to perpetrate fraudulent transactions, while delivering a frictionless customer experience. The cutting-edge technology solutions can be deployed on mobile devices including tablets and smartphones as well as online and on point of sale systems that store associates use for day-to-day operations.
Lewis said identification authentication and verification is critical to protect consumers. “The CBP seizure is just the tip of the iceberg. Fake IDs from China and other international and domestic sources are flooding the country and it’s no surprise. This year’s record-setting pace of data breaches has given crooks a wealth of personally identifiable information that fuels the supply of sophisticated fake IDs used in identity theft. With more than 14 million victims of identity theft in the U.S. annually, consumers understand these threats are real and very serious. In fact, consumers are sending retailers the very pointed message that they blame the retailer and will take their business elsewhere when their data is compromised. It’s clear that retailers must act to put proven solutions in place to protect their bottom line and the consumers who entrust them with their sensitive data.”
Retail ID and Retail ID Online have been deployed at more than 17,000 retail locations nationwide. The advanced technology solutions deliver real-time identification authentication that is more than 99% effective allowing retailers to realize the benefits of fraud prevention instantly and affordably, while protecting consumers from the devastating impact of ID theft and fraud.
About Intellicheck NYSE American: IDN Intellicheck is a trusted industry leader in technology solutions that stop identity theft and fraud with real-time identification authentication and age verification. We make it possible for our clients to increase revenues, improve customer service, and increase operational efficiencies. Under new direction, the company is focused on partnering with banks, credit card issuers and retailers to prevent fraud. Intellicheck also serves law enforcement agencies, national defense clients and diverse state and federal government agencies. For more information on Intellicheck, visit http://www.intellicheck.com/ and follow Intellicheck on Twitter, on Facebook, on LinkedIn and on YouTube.