CyberSource Corporation, a provider of e-commerce transaction services, announced this week that has enhanced its eTransaction SuiteSM to include the Internet’s first real-time delivery address verification service.
The new capability enables web merchants to reduce losses due to shipping address errors, which could exceed $135 million (US$) this year, according to a report by Forrester Research, cited by CyberSource.
How It Works
The new technology from CyberSource reportedly works by applying database and fuzzy-logic technologies to a consumer’s typed address, and confirms that the city/state/zip combination is correct. The validation process typically requires only a few seconds to execute and can take place before or concurrent with credit card authorization.
If the address cannot be validated, order processing stops and a decline message is returned to the merchant, along with detailed information that identifies specific problems with non-valid delivery addresses. The merchant then prompts the consumer for a resolution.
The Need It Fills
Albert Pang, research manager for e-commerce software at International Data Corporation (IDC) explained the need for such technology. “As sales increase, online merchants feel the many hidden impacts automated ordering has on their business. Merchants find it takes far more than simply automating a payment process; implementing methods to control order errors in real-time also becomes a key consideration.”
Other Features
In addition to this latest enhancement, CyberSource’s eTransaction Suite also includes online payment, fraud scanning, digital delivery, fulfillment messaging and other transaction services.
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