The American Gem Society has partnered with Wells Fargo to roll out a new value-added service that is available to members of its credit card program Intellicheck.
The program enhancement provides a fast and easy-to-use mobile app for in-store transactions that supports the prevention of fraudulent credit account openings.
Intellicheck’s state-of-the-art identity validation app makes it easy for jewellers to confidently extend credit to customers with a frictionless experience that verifies identity documents like drivers’ licenses and state-issued IDs from every state in under a second.
The importance of this new program benefit is already being realized by jewelers across the country who are using the Intellicheck app, according to the AGS.
Over 1% of all jeweler transactions validated through Intellicheck in 2022 were red-flagged as suspected fraud.
With the average sale price of a credit account opening for jewelers amounting to thousands of dollars, the Intellicheck app eliminated more than $16m of fraud losses to jewelers last year.
The AGS said this advanced level of customer service and merchant protection is available to AGS retail members participating in the AGS credit card program for up to the shared amount of 25,000 transactions.
Members will have the option to purchase additional transactions through their Intellicheck account if the pool of transactions is used up.