Amex Express Checkout is a new checkout option that recently went live this month, and unlike the other payment methods it is not an e-wallet in the conventional sense. Instead of creating and managing payment accounts for one or more payment methods, the Amex system leverages a user’s existing account information, so when a user is ready to check out all they need to do is enter their Amex username and password. The same credentials they would use if they were to log directly into their online Amex account. That’s because they actually are.
Like the other payment methods, the Amex system is focused on security and ease of use. The idea being that the card holder never has to enter their credit card information, instead the data is securely sent directly to the online store from American Express and so both the online merchant and the card holder can rest assured that the provided information is current. With other e-wallet systems, it is up to the card holder to update their card information if a card expires or a new card number is issued and so on.
There is Still a Potential for Fraud, Even With Fast Checkout Options
One would think that with so many secure payment options available today that an order validation service in your checkout system would be unnecessary, but that’s not the case. These payment systems may be designed to be secure and easy to use, but there is still a potential for fraud. These checkout systems primarily only fill out the billing details and have nothing to do with the shipping details or other aspects of the order. A service like DOTS Order Validation can take a look at the individual details as well as the big picture to help prevent fraud. Also, not all customers are going to use these sort of checkout systems; so an online store will almost always have an option available for a user to enter their own checkout information. Otherwise, the store risks losing a potentially large customer base.
If a fraudster has an opportunity to circumvent additional security then they are going to take it, and they will most likely not choose these checkout systems. Which means that a service like OV will play an even larger part in helping fight fraud. Overall, e-commerce shopping cart programmers would do well to make use of these e-wallet systems and use a service like DOTS Order Validation. A service like OV is not in competition with these type of systems and it will still have a place in helping prevent fraud.