VerifySpot protects merchants by verifying that the payment card used to make a purchase is in the possession of the buyer.
The app works by combining the customer’s payment card information with their location data which are sent to the merchant for review.
VerifySpot works AFTER the sale and does not interrupt the transaction process. Once the customer completes the checkout, they are instructed to download the VerifySpot app and scan the QR code they see on the merchant’s site. VerifySpot then prompts the customer to take a picture of the payment card and initiates a secure process to verify their identity with the merchant.
Once the review is complete, the data is anonymized and deleted.