The relationship is going to take a lot of barriers and friction out of the online checkout process. Equifax said it will be able to auto-fill the personally identifiable information, including pre-enrolled card data, needed to complete a transaction on a mobile device.
With the new solutions Equifax and Jumio plan to launch, once a consumer scans information from a card once, the companies will be able to preload the information on any participating merchant’s site, when the consumer authorizes them to do so.
Equifax said it will use its user information resources, such as credit scores and billing information, in tandem with Jumio’s authentication and validation capabilities to reduce fraud, increase purchases and ultimately improve the consumer mobile commerce experience.
The companies also will assimilate the solutions with the Equifax Mobile Wallet functionality, allowing consumers to access their cards on their mobile device to use for purchases. Shoppers may scan their credit card with their smartphone, or use their smartphones in-store at the checkout counter to complete the transaction using whatever technology the merchant supports, such as NFC or QR codes. Users also may opt in for instant, store-brand credit card offers. When stores extend the line of credit to users, they can instantly use the card on their mobile device, and no consumer credit data are stored or cached on their smartphones.