RetailQ - Biometric Check Fraud Prevention System for Retailers
 Identity theft. Counterfeit checks. Check fraud rings. According to the American Bankers Association, reported check fraud incidents have doubled in the last two years.
The RetailQ biometric solution compares a check-casher's fingerprint to those stored in a secured database and confirms a positive history or flags a potential fraudulent transaction. Within seconds, the system displays a "cash/don't cash" decision based on the criteria the individual merchant decides is acceptable at their facility. At the moment a transaction is initiated, a color coded graphic will appear on a computer screen followed by, if requested, the individual's check cashing history. With this information, your employees will see whether or not to cash a check before funds are exchanged.
The difference between RetailQ and other biometric technologies is the use of US Biometrics' nationally shared database called CheckQ. This database is populated by records from financial institutions and merchants from across the U.S. and provides real-time access to previous suspect transaction history within - and outside of - your facility.
The true cost of fraud goes far beyond the face value of a check. For every dollar lost, four more are spent identifying and prosecuting the criminal. With the addition of intangible costs such as lower employee morale, workplace disruption, adverse publicity, higher security costs, and legal expenses, experts estimate annual losses at $10 billion for the check cashing industry. |
Benefits
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Cash customer checks with higher confidence while simultaneously reducing the risk of doing so. |
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Flag a potential fraudulent transaction BEFORE money exchanges hands at your facility. |
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Reduce fraudulent losses immediately. |
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Cashier's see a simple "STOP" or "GO" after a customer's fingerprint is placed on the fingerprint reader. |
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Reduce cashier stress by relieving them of the duty of being a criminologist. |
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Transaction fee based service means that there is very little - if any - capital expenditure. |
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Speed and Convenience. RetailQ allows for the expedient and accurate processing of customers that want to cash checks at your establishment. |
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Being on the CheckQ Network allows your establishment to benefit from other member establishment's check cashing experiences and vice versa - they benefit from yours. | |
| Features |
| No Integration Needed |
The RetailQ client sits as a stand alone application that is minimized until a clerk or customer service representative needs to cash a check. |
| Software is Free |
The RetailQ software is free whether you have a single work station or 2,000 work stations. |
| Simple Enrollment |
Enrollment to the system for an individual cashing checks needs to happen only once and can happen at any member institution or retail outlet. The process takes approximately 2 to 3 minutes. |
| Fast Authentication |
RetailQ gets customers in and out of your establishment quickly. |
Management Back Office Software
Customize the Business Rules for your Establishment |
Management software allow you to customize acceptance rules for check cashing for your establishments, view the details of a specific suspect transaction, or see an individual's total number of transactions.
A simple business rule might set the number of checks an individual can cash per week or set thresholds denying check amounts exceeding a specific dollar limit. |
| Weekly Reports |
RetailQ delivers weekly reports to you identifying all transaction volume and history at your establishments. |
You can prevent fraud (instead of reacting to it) with RetailQ fingerprint recognition, the biometric solution for verifying identification. As it grows increasingly affordable, biometrics is fast becoming the global standard for authentication because of its accuracy and reliability. Unlike a driver's license, Social Security card or PIN, a fingerprint can't be lost, stolen or recreated. The shared database helps the community of merchants combat fraud.
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