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By using the V-Series API, does this help protect an organization against fraud and improve efficiency?
Around 10% of Data entered contains ERRORS; failed payments / collections are a considerable business cost let alone the costs of payment repair (£50+ per item according to Bacs).
In terms of business efficiency, the use of the V-Series API supports straight through processing; providing a much better Customer Service by getting it right first time.
By confirming the identity of the individual, it obviously helps protect the business against fraud.