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Recent Federal Trade Commission activity is undeniable evidence for increased concern of the public in connection with unauthorized check creation and fraud conducted by organized scammers and con artists. Software, paper, ink, toner and printer hardware, widely available at retail stores and online, are reportedly being used as tools to print checks without account holder authorization or knowledge and thereby cause losses. Consumers and merchants are defenselessly exposed to harm from unauthorized, unverified checks: “sitting ducks” to con artists.
Use of unverified checks can now be replaced by a safer alternative.
iProlog Corporation, specializing in innovative digital security solutions, is pleased to announce availability of gValidate.com, a free service for consumers and businesses. gValidate.com provides a network that protects its members from financial harm before it happens by providing a free centralized resource to validate financial accounts, verify payments by check and notify account holders pre-emptively of check activity associated with their accounts. If implemented broadly throughout commerce, the gValidate Network™ can eliminate the vast majority of losses associated with unauthorized or underfunded check payments in the US and wherever else checks are in use.
The gValidate Network prevents check losses with unique safeguards.
Membership is FREE. Users on the gValidate network have access to unique safeguards which protect financial accounts and verify payments by check. gValidate Network members are entitled to issue and print DNA Secure™ checks.
DNA Secure™ checks are verifiable online and can communicate verification events back to the account holder in real time via email or SMS text messages from the moment they are created until they are deposited. Members thereby achieve full control and transparency of impending check payments. Unauthorized checks can be discovered and stopped immediately, with a high risk for the “con artist” to be identified well before any harm can occur to the gValidate member’s account. The members protect their accounts through gValidate account validation, which ensures authenticated control over any bank accounts members wish to validate.
Tough to beat: DNA Secure Checks and gValidate Check-Alerts
Instant member notification of impending check activity is not the only aspect of the umbrella of safeguards provided through gValidate. The protective shield is further extended by novel and eye catching safety features printed visibly onto a new kind of check – the DNA Secure™ check - which members are enabled to create and print by themselves, through member recipients online or through others on the users’ behalf, subject to each member’s permission. DNA Secure™ checks provide unprecedented counterfeit protection using full color digital print personalization and the display of a prominently placed gValidate DNA Secure™ seal with verification instructions on each check’s face. The printing of DNA Secure™ checks is based on digital color inkjet printers or presses with MICR ink capability and printing software utilities (for example VersaCheck X1 by VersaCheck.com) which can connect to the gValidate.com platform through the internet. Every attempt to counterfeit a DNA Secure™ check would need to mimic the verification seal whose instructions ultimately lead to alerts being sent to the authorized account holder. The unauthorized user would thereby make him/herself discoverable before the check can even be deposited.
gValidate Benefits Commerce Overall
Why would a check recipient prefer an unverified check over a member’s DNA Secure™ check from a validated financial account? Member checks are safeguarded and reduce the risk of fraud. Lower perceived payment risk leads to quicker, customer friendly fulfillment of a pending purchase and improves flow of goods and services, which is relevant for commerce overall. DNA Secure™ checks allow merchants to save significantly through elimination of credit card fees, which reduces the cost of payment processing and can lead to discounts for customers. gValidate provides free real-time front-end safeguards against identity theft and check fraud so consumers and business have an attractive alternative to expensive identity theft service costs and costly, back-end credit reporting services. The gValidate concept is to defeat the unauthorized check issuances before they happen, not report on the damage after it occurs.
Inexpensive Approved Partner Programs and free customer ratings
Members, printing DNA Secure™ checks remotely as a service or to collect payment for a purchase, can subscribe to an Approved Partner Program. DNA Secure™ checks from validated accounts eliminate credit card fees, present low transaction risk, help accelerate fulfillment of pending shipments, improve customer satisfaction and improve commercial activity. Approved Partners, merchants and anyone verifying DNA Secure™ checks online can quickly and easily see real-time check payment ratings which are derived from the number of confirmed “bad checks” issued by the respective member, bringing a new transparency to online shopping experiences for all, significantly reducing the need for expensive or invasive credit checks.
Easy integration with existing software and merchant solutions…
Online merchants and users of Quicken, QuickBooks, Peachtree and other finance software can benefit from gValidate.com DNA Secure™ check safeguards through integration with VersaCheck X1 software, available at VersaCheck.com, retail stores and online. The DNA Secure™ check system actively repels unauthorized users and enhances the value and credibility of checks.
“The gValidate Network was designed to protect consumers and businesses while enhancing the payment experience associated with checks. The novel interactive member platform allows users to detect unauthorized checks before harm can occur. It protects everyone without requiring invasive information from its members,” says Thomas Villwock, Ph.D., CEO of iProlog Corporation. He continues in saying: “Conventional checks can be created without any authorization, by anyone, using easy-to-use tools broadly available to the public. Unsuspecting victims may find their bank accounts depleted without warning or any means to prevent loss. gValidate provides consumers access to effective front-end safeguards that build trust in their check payments, prevent harm, and repel counterfeiting. Why would anyone choose enhanced risk exposure over the new safeguards, available Free AND without submitting any sensitive personal information? It would be imprudent to prefer checks without the safeguards. Wouldn’t it?”
About iProlog Corporation
iProlog Corporation is a leading consulting firm specializing in security related applications associated with digital print platforms. The company provides technology development services, R&D, market analysis, implementation consulting, system architecture development and licensing of IP associated with information processing, supplies and media used in connection with digital print applications.
iProlog Corporation is contributing founder of the gValidate.com system architecture and DNA Secure™ check output process. The company is licensing its technology to software publishers, financial institutions, printing companies, Internet service providers, Internet merchants and others. Please contact gValidate@iprolog.com for licensing information related to the gValidate platform.
Integrating the gValidate.com member model with Internet commerce solutions safeguards businesses and consumers while transforming checks into a secured, low cost and preferred payment method.