Credit check with credit reports via the creditPass platform allows you to check the creditworthiness of your customers quickly and inexpensively. The credit check is done online and in real time . So you gain security and protect you and your business against failed payments . Since creditPass unlike other providers can centrally access all data sources , you hereby receive maximum protection against fraud and payment losses.
Generally a credit check always makes sense. There are some hard facts: Every tenth person in Germany has negative chracteristics in a credit report. Within this group 80% of all payments cause payment problems. Moreover there exist people who commit fraud in a professional manner.
You can fight all these risks with a credit check before you close a contract or ship your goods.
The aim is to detect fraud or poor credit ratings before it is too late. Credit reports provide this necessary information, especially for new customers, to which you have no experience yet.
The payment problems can be avoided by a classic credit check. Has someone had already payment problems, this person can be found most likely in the database of a credit reporting agency. Appropriate actions to be taken are in these cases for example the deposit of a security or the exclusion of open payment methods. Especially in e-commerce it depends on a speedy trial. With our credit check online and in real time you can get safety within the checkout process of your customers.
Besides checking on negative indicators a particular attention should be paid to the existence of the given personal data in order to detect fraud. Every time the existence of a person can not be confirmed you should be on high alert. In this cases you should insist on safe payment methods. We offer access to databases which can provide information on address and identity data. Some of these address checks also correct the given data automatically so that the quality of the requested credit reports will not suffer under incorrect data – no matter if it was a typo or fraud. (more about identity checks)
Of course, payment problems may occur with clients that do not yet have negative entries. Conversely, there are again people who had financial problems in the past , but now belong to the ” good payers “. Here within the credit check a scoring helps which provieds statisticaly calculated data to separate between the ” bad among the good ” and ” good among the bad “. Furthermore useful checks are accounts checks, creditcard checks or GeoIP.
As a basic principle: The more information you can get, the more security you will gain.
The big problem with the credit report is that the negative characteristics, address and identification information etc. are split to several agencies (e.g. Schufa, Bürgel, Creditreform Boniversum, …). Moreover not all checks, like an account check, are available via all agencies.
Therefore creditPass allows checking your customers on a modular basis , i.e. all relevant checks of all renowned agencies can be requested online and in real-time and then these checks can be individually combined – all through a single interface.
In addition to our manual query mask the creditPass direct connection enables automated credit checks with self-configurable logic, ensuring always the best combination of checks is triggered. Depending on these query results and possible further parameters (e.g. value of goods to be sent) a decision is automatically generated, e.g. excluding some payment methods. The query sequence is done online and in realtime so that the test can be processed in the background of an online order.
The ultimate goal of a credit check is to optimize a) high conversion b) low losses through failed payments and c) low fees. If you need to change your in house systeme every time you want to make an optimization and if you have to implement new interfaces for every change the additional cost would not be justified. With creditPass® you are able to optimize your system anytime – no matter if you want big or small changes. Moreover you are independent from single agencies. In cases of maintenance or downtimes you can simply change to another agency and you are able to compare the results from the different providers.
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