08 Dec Credit information in the digital age
– Quality in risk management and credit reports is not a matter of course –
E-commerce is now more than twenty years old. As early as 1995, the first daring from us ordered online with the help of their credit cards. Above all, these were shops in the USA that could count on secure payments. There were ties and electronic gimmicks that even the then extremely popular provider Conrad Electronic did not yet sell. With the emergence of direct debits and the increased volume in online trading overall, suitable solutions for creditworthiness information in advance have become more and more important for the retailer or merchant. The old principle in marketing still applies: Quality is what makes a product suitable for its use. This means that not everything that an innocent person might find expedient and effective fits into the profile of the requirements of every online provider. The classic credit agencies had been collecting data for years. These were then often cumbersome and delivered to senders using information channels that are hardly imaginable today. The first step was online queries for the credit report with which the solvency of customers and buyers could be quickly, inexpensively and reliably led to an assessment. With creditPass, one of the first multi-credit agency platforms was created in 2003, which not only had the data and characteristics of a provider, but was also able to simultaneously display different systems of creditworthiness information. Card checks, b2b checks, address checks, address verification, ie checking of addresses, compliance checks, blacklists for customers in Germany, Europe and worldwide have been available there since then. The next step in the direction of real top quality in information on creditworthiness provided the option of connecting and combining different creditworthiness information on a retailer’s own decision matrix or a decision tree. This can be individually controlled depending on the product group, shopping cart, order frequency or customer type and customer origin in order to enable the correct payment processing inexpensively and efficiently and to optimize your own accounts receivable management. Against this background, the credit check from creditPass in the digital change is already much better and more effective in searching for and recording bad debtors than all previous full-service providers. Further instruments will be offered in the future. As a pure contract data processor, creditPass always enables the provider of online goods to obtain accurate and effective creditworthiness information.
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Here is an overview of the services of creditPass!