TPV stands for Third-Party Verification, and it refers to the companies providing verification services. These services are typically for telecommunications companies or utilities where an existing account holder wants to change to another service provider. In order to accommodate this transaction and to have a validly binding contract a third party (the TPV verification services provider) acts as the independent party that asks a series of questions that verifies the account holder, their identification, and confirms their interest to switch accounts with the other new carrier or utility on the other line. In going through this service all parties involved can feel confident that a a clean business transaction was completed. As with all TPV companies, all of their calls and records must be maintained and kept in safe keeping for at least two years, or more depending upon certain practices, special situations, or pursuant to the regulations of certain industries.
The Third Party Service
The increasing demand for experienced and specialized third parties to handle the phone number account verification process has become more and more popular. In addition, while TPV has been principally and initially designed for the telecom and long distance industries, it can easily be used for other service type companies such as legal, healthcare, financial services and the like.
A third party verification services company helps keep the industry honest and accounts for the fact that each client gets treated fairly and in the same terms as other carriers, etc. The effective methods they have give fast response and nice feedback from the customers. Many online business companies use the verification services.
Guaranteed Guard on Company Information
Basically, the verification services process deals with the customer and the company’s data relative to them getting the new account. However, the TPV usually already signs a contract for protecting the data coming in and out of the party and will not send them out without the consent of the related sides and/or the documented request by the account holder. For example, because TPV is in charge of handling the verification process, then the company automatically has to provide them with the customers data base for them to check on. The customers’ data will not leak into anyone without the consent of the related customer or the company.
The verification services provided by a TPV usually include automated TPV and live agent TPV. Depending on which service you choose, you can choose the service to be done automatically or you can use the live agent service. The TPV has the potential to be broken by someone, and the data might be modifed. The Live agent will provide more assurance. However, in some cases, the automated TPV will be enough to collect the customer’s data. Usually, it is used by small companies that are relatively new and/or just getting to launch another business plan.
This is also a perfect service for business that has less risk in it.
Since it already becomes a requirement, then you have to make sure that your business follows the right procedure. Moreover, it is for the sake of both the customers and the companies well. Doing the verification process will protect the business and lessen the risk of any fraud. You can search for TPV with good verification services to make sure that you select an industry provider that has an excellent reputation and a solid background doing TPV.