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How Age Verification Solution Assists Businesses to Avoid False Chargebacks?

The coronavirus affects all countries around the globe. It changed the way of living around the globe and taught new things to men. During the lockdown situation in the COVID-19 outbreak, the number of internet users increased by millions as they had nothing to do at home. People used the internet to play online games, for entertainment, or used for socializing, etc. Little kids also play their part to use internet services for different purposes such as watching funny videos or playing online games.

Minors do not know the goods and it is bad for them. While using mobile phones, sometimes, they can access harmful websites due to substandard age checks that affect their physical and mental health. Similarly, it has been noticed that minors access e-commerce sites and order a product that results in chargebacks to online businesses. According to a source, more than one million identities were stolen by underage children’s cybercriminals every year. There should be a proper age verification solution to keep minors at bay from explicit content, e-commerce businesses, online gaming, and gambling sites. Online age verification solution helps businesses to prevent minors from age-restricted products.

Age Verification Solution

Online age verification authenticates the age of the users by matching the date of birth on their provided documents. Checking the traditional age checkbox or captcha checkboxes does not guarantee that the end-users age is real or not. As the children are very smart to dodge these checkboxes. The automated age verification solution facilitates businesses to confirm the identity of the customers in real-time within seconds with extreme accuracy to know their current age. 

To confirm the age, the end-user enters the dob to log in to the system and uploads the ID document. The OCR scanner fetches the required information and calculates the age. In the end, the system sends the result to the back office. If the user is below the age limit, the system sends proof of verification to the back office. It is a KJM approved technology with GDPR standard data protection having multi-factor authenticity checks. All businesses should incorporate robust age verification solutions to verify the age of their customers to prevent online frauds. 

Incorporating Age Verification Solution is Inevitable for Businesses

It is the responsibility of all businesses to comply with age regulations to prevent the misuse of their products. They have to follow robust KYC standards to avoid age-related fraud. AI-powered age verification helps businesses to confirm whether the purchaser is age verified or not. It also assists them to know their customer’s customer. The automated age verifier runs various authenticity checks with thorough customer screening before sending the result. Many online businesses are using age verification solutions before onboarding their customers to prevent false chargebacks. But age verification solutions prove inevitable for the following businesses. Let’s have a look at industrial use cases of age verification solutions.

Industrial Use Cases

Although all online service providers should incorporate age regulations, some businesses must follow age regulations. These includes:

Vapes and e-Cigarettes

Many school-going children who are under the age of 18 are involved in smoking using e-cigarettes that affect their mental health. Due to excessive nicotine intake by underage children, regulatory compliance specialists make it compulsory for vapes and e-cigarettes sellers to follow age regulations to avoid non-compliance fines.

Cannabis and Medical Marijuana

In the United States, medical marijuana is allowed for selling and underage children are also taking advantage of it. Online stores are supplying marijuana without age verification as they have numerous orders. The use of cannabis and medical marijuana badly affects the health of minors. Therefore, cannabis and marijuana sellers should follow age regulations to reduce the excessive use of these products to underage children.

Some other industries need to meet age regulation standards such as online gaming and gambling platforms, and alcohol sellers to avoid misuse of their products.

Conclusion

The excessive use of mobile devices among minors compelled parents and businesses to take stringent measures to prevent them from harmful products. Age verification solutions help businesses to comply with security standards. It not only helps businesses to avoid hefty fines from regulatory authorities but also assists them to avoid false chargebacks. In this way, the revenue of the online businesses also increased.

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