Callcredit helps ShieldPay’s customers transfer money with confidence

Callcredit Information Group is helping payments service firm ShieldPay provide secure online payments to its customers.

ShieldPay´s unique and patent pending technology protects both buyer and seller in any payment by verifying both individuals. Using Callcredit’s ID and bank verification solutions ShieldPay can verify both party’s identity and bank account reducing the chances of peer-to-peer payment fraud. Callcredit’s solutions also help ShieldPay to comply with anti-money laundering regulations as well as enable its customers to transfer money with confidence.

Via an API Callcredit will provide ShieldPay with source data that will validate the identity of both parties but will also provide additional checks including knowledge based authentication assessments to provide verification of those identities. ShieldPay will also be able to link the bank account details given to the name and address provided, receiving a confidence level depending on the certainty that the bank details can be matched to the name and address.

Darius Taylor-McCall, Business Development, Callcredit Information Group said: “Where there is money is exchanging ‘hands’ there is always a risk of fraud.  Already this year Cifas has reported that there was record 89,000 cases if identity theft in the first half of 2017.  This equates to almost 500 incidents a day. It is important when making an online payment that the platform used is secure and has the right validations in place.

“ShieldPay’s unique solution helps prevent fraud and protects both buyers and sellers.  The service provides everyone involved in the transaction, including the banks making and receiving payments, with a level of reassurance and confidence.”

Willem Wellinghoff, Chief Legal and Compliance Officer, ShieldPay said: “At ShieldPay we are building the most secure and trusted payments network, adopting a unique and compliant identification and payment techniques to create an instant digital escrow facility that protects both buyer and seller in any transaction, whether that be across online marketplaces, crowdfunding, conveyancing, M&A’s or peer-to-peer transactions.”

Jerome Gudegon, CTO and Co-founder, ShieldPay, said: “Callcredit understood our aims and needs from the start and the CallValidate Suite allows us to tap into a wealth of data, direct from source. This enables us to verify our customers on both sides of the transaction, and allow anyone, anywhere, to transact with total confidence.”

 

The information in this statement is intended for journalists and media professionals only. The information should not be construed as a financial promotion under the Financial Conduct Authority’s (FCA) Handbook of rules and Guidance.

First and foremost, we are a FinTech business, fully authorised and regulated by the FCA for payment services. We are an alumni of the 2017 Barclays Accelerator Programme, powered by Techstars.

Our mission to eliminate fraud in peer-to-peer payments and to enable anyone, anywhere, to transact with each other in total confidence. Whether you are an individual or business, ShieldPay enables you to create an instant digital escrow facility with no set-up costs.

Our platform protects both payer and payee in any transaction by verifying the identity (and beneficial ownership) of all parties. Funds are held securely in the ShieldPay Vault, and are only released when both parties agree.

We created ShieldPay as traditional payment systems and banks failed to protect buyers and sellers of goods and services from fraud. Core to our culture is giving our customers an easier and safer way to be able to Buy Safe, Sell Safe and Pay Safe. We are a passionate bunch of technologists, designers, marketers and legal and compliance experts who share the same vision of making the payments ecosystem a safer place for all. www.shieldpay.com

 

Callcredit is in the business of empowering information. We provide the data, analytics, and software that enable businesses to build more valuable customer relationships. We specialise in managing consumer data for businesses across every sector.

The Group is structured into three geographic markets: UK, North America, and International Markets. The markets are supported by three specialist line of business teams: Credit and Marketing Data, Software, Analytics & Fraud, and Consumer Markets. Callcredit focuses on developing innovative products and services across these specialisms to help businesses make smarter and informed decisions throughout the customer lifecycle.

Founded in 2000, Callcredit includes the UK’s second largest credit reference agency (CRA) and employs more than 1,200 professionals across Leeds, London, Stockport, Warrington and Kent, and its international offices in Spain, U.S., Japan, China, Dubai and Lithuania and also has agents working across international markets. In 2014 Callcredit was acquired by private equity business, GTCR.

In a first for UK consumers, in 2011 Callcredit launched Noddle (www.noddle.co.uk), the free-for-life credit reporting and scoring service with no hidden fees or 30-day trial periods, which now has more than three million customers. This service helps individuals to check their credit report and credit score and protect against fraud and identity theft. www.callcredit.co.uk