On-the-Spot TIN Check Helps Acquirers Tackle Widespread Merchant IRS TIN Churn

SecurityMetrics’ acquirer tool validates merchant IRS TIN within seconds. SecurityMetrics On-the Spot TIN Check is an affordable and quick solution for SecurityMetrics PCI customers who don’t have the resources to effectively validate new merchan

Orem, Utah (I-Newswire) August 28, 2012 - SecurityMetrics addresses industry-wide concern with its new SecurityMetrics On-the-Spot TIN Check underwriting tool designed to simply and instantly validate merchant IRS Tax Identification Numbers (TIN). Industry experts estimate 20-25% of merchants will require annual revalidation of inaccurate, incorrect, mismatched, or missing TIN based on merchant churn between processors. SecurityMetrics On-the Spot TIN Check is an affordable and quick solution for SecurityMetrics PCI customers who don’t have the resources to effectively validate new merchants or changes in legacy accounts.

If acquirers wish to board an account swiftly while verifying required merchant information, it typically takes a minimum of 48 hours for the IRS to respond. Considering annual merchant churn, the two-day time lapse and additional time spent in merchant re-communication negatively impacts acquirer resources. Acquirers that enter merchant data through SecurityMetrics TIN matching portal can validate IRS TIN in minutes.

“Many SecurityMetrics PCI customers need a solution to quickly address TIN issues surrounding verification for their new merchants,” said SecurityMetrics Director of Business Development, Jacob Young. “We created a time-saving solution to help acquirers fulfill their sustained responsibility to obtain correct TIN information and legal business names for each merchant.”

SecurityMetrics On-the-Spot TIN Check is an economical service integrated in SecurityMetrics’ PCI program. For more information about SecurityMetrics On-the-Spot TIN Check, contact SecurityMetrics by emailing jyoung@securitymetrics.com or calling 801.995.6340.

About SecurityMetrics (www.securitymetrics.com)
SecurityMetrics assists in protecting electronic commerce and payments leaders, global acquirers, and their retail customers from security breaches and data theft. The company is a leading provider and innovator in merchant data security and compliance, and as an Approved Scanning Vendor and Qualified Security Assessor, has helped over 1 million organizations manage PCI DSS compliance and/or secure their network infrastructure, data communication, and other information assets. Founded in October 2000, SecurityMetrics is a privately held company headquartered in Orem, Utah, USA.