Third-party verification (TPV) is the process of having an independent company review and confirm a customer’s information to ensure that the information they have provided is accurate. Third-party verification can be done by conference calls, and is most often used by sales departments to verify a customer’s interest in or agreement to purchase before redirecting them to a sales representative. Third-party verification is also used in situations whereby a customer wants to update or provide new information, but they cannot do so because they cannot present a contract or a physical copy of that information as the update is happening via telephone or online.
Third-party verification will allow you to easily reference a customer’s purchase history should the situation arise that they did not authorize an account change or transaction. In order to proceed, the customer has to consent to a transaction in order for it to be processed, which demonstrates that the agreement is legally bound. Third-party verification is often required by law, especially in the age of the internet.
At Veripex, our sales team will meet with you over the phone or through video calls to go over your requirements and see how we can help.