V12 Retail Finance Gives Credit to Postcode Anywhere's Bank Validation


V12 Retail Finance uses Postcode Anywhere technology to validate bank account details in credit applications

Worcester (I-Newswire) August 23, 2012 - V12 Retail Finance has highlighted the importance of bank account validation in building a successful business this week.

V12 Retail Finance is the UK's only specialist provider of Retail Point of Sale Credit. The company uses Postcode Anywhere's software for bank validation, email and address capture on their website.

Matt Hatton, IT Director said: "Accurate address and bank data is critical to us as part of the credit checking process as it can lead to applications being referred or even declined which cause delays and customer anxiety. The quality of our data can also affect our status with the Credit Bureau, therefore ensuring accuracy ultimately helps to reduce our underwriting costs which obviously benefit our customers.

"Originally we used two different competitor products; one for address and email validation and one for payment validation. With both providers we found the pricing models inflexible. For example, if you exceeded the look-up threshold by one credit you would be penalised by £100!

"Far superior to the competitor's"

"When we switched from the competitor products and we had a good look around at what was available on the market we found Postcode Anywhere's interface simplicity itself and its API is far superior to the competitor's. We integrated all three Postcode Anywhere services in less than a day.

"Postcode Anywhere just works quietly and efficiently in the background. The other thing is that all the money we save with our paperless office model goes to charity so our customers feel they are being green as well as helping a philanthropic cause.

Cost effective and efficient

"We get a really cost effective and efficient service with a pricing model that's scalable in terms of seasonality and responsive to customer demands. We are really very happy with our relationship with Postcode Anywhere."

Guy Mucklow, managing director at Postcode Anywhere said: "The recent surge in online shopping has significantly increased the importance of recording accurate account details. If your data is incorrect, payment will be rejected, resulting in extra costs to you and frustration for your customers. Reprocessing failed payments can cost up to £50 each time - but more importantly, can result in lost sales and inestimable reputation damage.

"Validating customer details at the point of entry removes any risk of human error from the equation all together. With payment validation in place, BACS, credit and debit card details are all verified from the very start, enabling an organisation to keep on top of their expenses, avoid bank charges and prevent fraud."

To find out more about Postcode Anywhere's bank account validation service, please visit www.postcodeanywhere.com/bank-account-validation/.

ENDS






About Postcode Anywhere

Postcode Anywhere supplies software and services which improve the day-to-day operations of over 8,0   More..00 organisations worldwide. Best known as a provider of address auto-fill and verification software, the company offers a range of data-driven services, including route planning, customer profiling and bank account validation. It is now the fastest-growing reseller of Royal Mail's Postcode Address File (PAF®) and the market leader for online address auto-fill. A multi-award-winning organisation, it has also appeared in Deloitte's European fast-growth technology company list for three years running. For more information about Postcode Anywhere, please visit www.postcodeanywhere.com.Less..

Contact Information

Postcode Anywhere
Natalie Green
Enigma House
WR2 6NJ
Phone : +44 (0) 1905 888 562

Tags:

eCommerce   payment   BACS  

Published in:

Technology

Published On:

August 23, 2012

Print Release:

Print Release

If you have questions regarding information in this press release contact the company listed above. I-Newswire.com is a press release service and not the author of this press release.The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies and PR Agencies submit their press releases once per week,month or quarter, make sure to check the official company website for accurate release dates as our site displays the I-Newswire.com press release distribution date only.We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for or omissions in that information or for actions taken in reliance on that information.


Related Releases

Variety of Communication Systems Available in Market
Services of Armed forces supply positive aspects to us in large quantity by defending us from warrior attacks of other countries

World Beater: Bundles of Desert Adventures Coming Soon on the App Store
World Beater is a running game packed with fun and excitement. The game will be released on the App Store in the coming weeks. Initially, it will be available for iPad and iPhone users.

Software Developers India Leads The Way In App Development And Custom Web Design
Entrepreneurs and startups have access to app development and custom web design all in one place: Software Developers India.

LG G2 New Android Phone in 2014
So the same thing always happens when a new device launches, the media get a review unit ahead of the official launch and we get to use them while we write a review then the press embargo lifts every outlet posts their reviews and videos.

"World's Smallest All-in-one Charger"
Uiee has just launched it's new portable combined portable charger and wall charger for mobile devices and has taken the title of "world's smallest".