The Transaction Validation The Transaction Validation TVI SET Service works by sending a message requesting confirmation of the transaction via a pre-defined communication path. This message typically is sent via SMS/Text (cell phone) or email. As an example, the message will include information that identifies the transaction, such as the Merchant’s name, the amount of the transaction, and even information about the method of payment. The Cardholder must respond to the message, thereby validating the transaction. This validation could involve confirming or simply replying to the Text or email.
Based upon the confirmation or lack of it, the Merchant requesting the validation either approves the transaction to go forward and process/fulfill the transaction, or, if there is a lack of validation, the transaction can be voided or marked for further scrutiny and processing. Since only the owner of the cell phone number or the email will have access to the validation request message, the Merchant has the assurance that the Cardholder is the party placing the order. Data breaches are all-too-common today, and the TVI SET service represents less risk for the Cardholder, since the fraudster will likely not have the ability to respond to the message requesting an authentication.
As for the validation message itself, it can take many forms; the most popular are SMS/Text and email. The format and content of the message can be simple or complex and can be configured as required or desired by the Merchant. The timing of the message is also configurable, as to when it is sent and when the reply is expected to be received back. Multiple messages can be sent, ensuring the integrity of the TVI SET Service.