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FOR IMMEDIATE RELEASE
Veratad Technologies and Jewelers
Vigilance Committee Partner with
DCIT to Offer First Point of Sale
Software with Integrated Fraud
Prevention and Compliance Solutions
for Jewelers
DCIT Automates Virtual Identity
Verification for Jewelers to Prevent
Fraud and Chargebacks
Teaneck, NJ - May 16, 2011 -
Veratad Technologies, LLC, a
world class provider of Identity
Verification and Compliance
Solutions and the
Jewelers Vigilance
Committee (JVC), the trusted jewelry
industry resource for trade and
consumers , announced today that
DCIT, Corp. will now offer Veratad’s
IDMatch+PLUS, virtual identity
verification along with JVC
membership to its BusinessMind
software solution customers.
DCIT, a company that specializes in
the requirements of businesses in
the global gem and jewelry
industries, will now provide a
seamless virtual identity
verification solution that is
delivered to jewelers directly
within BusinessMind, DCIT’s
jeweler’s point of sale software
solution. The first of its kind,
this software makes verifying an
identity a simple matter of a few
clicks, and is designed to protect
jewelers against losses due to fines
for non-compliance, as well as fraud
and credit card chargebacks. The
service is simple, easy-to-use and
affordable.
In addition to the Identity
verification, each jeweler that
qualifies will be granted the many
benefits of JVC membership with the
service. Cecilia Gardner, JVC’s
President, CEO and General Counsel,
said, “This is an opportunity for
jewelers to stop fraudulent
purchases, avoid costly chargebacks
and meet their USA PATRIOT Act and
Red Flags Rule compliance
obligations while enjoying the many
benefits of JVC membership.”
“Veratad’s partnership with the JVC
has increased industry awareness of
the threats posed by identity theft
and fraud, and jewelers are now
beginning to understand the
importance of identity verification.
This new relationship with DCIT will
make virtual identity verification
for DCIT users simple, affordable
and effective,” says John Ahrens,
Veratad’s Managing Director.
Raffi Minassian, CEO of DCIT, said
“We decided to partner with JVC and
Veratad for a number of reasons, not
the least of which is their
respective industry leadership and
experience. We are always looking
for ways to improve our service.”
Mr. Minassian went on to say, “This
combination of an online enhancement
for identity verification, coupled
with JVC membership, allows us to
offer our jewelers the valuable
benefits of membership with a tool
that protects them from chargebacks,
fraudulent transactions and
potential fines for non-compliance.”
Veratad’s virtual identity
verification and JVC membership are
now available with DCIT’s
BusinessMind point of sale software
for jewelers. To learn more about
JVC, Veratad or DCIT, contact your
DCIT Representative or call Veratad
Toll Free at 888-510-7343.
About DCIT Corp DCIT Corp. provides
software and technology services for
business computing on all major
platforms including Linux, Windows,
and MacOS X. DCIT specializes in the
requirements of businesses in the
global gem and jewelry industries
and serves hundreds of companies. To
learn more, visit
www.dcit.com.
About Jewelers Vigilance Committee
Jewelers Vigilance Committee,
founded in 1917, is a not-for-profit
legal trade association fulfilling
its mission to maintain the jewelry
industry's highest ethical
standards. JVC offers dispute
mediation and arbitration services
for trade and consumers, compliance
monitoring and precious metals
testing, among many other services.
JVC, long considered the industry's
guardian of ethics and integrity is
a resource for the entire jewelry
industry and its customers as well
as an industry representative before
government agencies, media and
adjunct fields. For more information
visit:
www.jvclegal.org.
About Veratad Technologies, LLC
Veratad Technologies, LLC (www.Veratad.com)
is a world class provider of
real-time online Identity
Verification and Knowledge Based
Authentication Solutions designed to
verify an individual's identity and
age while maintaining a high level
of consumer privacy. In addition,
Veratad offers a unique online Red
Flags Rule Compliance tool for the
creation of an ID Theft Prevention
Document and Employee Training
designed to meet the compliance
requirements of FACTA. At the center
of Veratad's success is a
state-of-the-art privacy processing
platform which delivers Veratad's
AgeMatch/Age Verification Solution,
IDMatch/Identity Verification
solution and IDMatch+PLUS/Knowledge
Based Identity Authentication
Solution. Veratad also offers a
patent pending solution that
protects sensitive customer
information while offering merchants
increased online sales by enhancing
customer confidence. Veratad
verifications can be delivered in a
matter of seconds directly through
multiple verification platforms to
commerce, financial and government
institutions. Veratad also provides
a wide range of custom data
solutions.
For More Information Contact:
Tom Canfarotta , Senior Account
Executive
Veratad Technologies, LLC
Teaneck, New Jersey P: 201-510-6000
Ext 120
sales@veratad.com
Forward-Looking Statements
In
addition to the historical
information contained herein, this
press release contains forward
-looking statements, such as
statements regarding the Company's,
and the combined companies',
anticipated future performance,
including the ability of the
combined companies to expand
verification and e-commerce
capabilities; to increase product
offerings and the size of the
distribution channel; as well as
statements containing the words,
"believes," "intends,", and similar
words. Such forward-looking
statements involve known and unknown
risks, uncertainties and other
factors which may cause the actual
results, performance or achievements
of the Company, or industry results,
to differ materially from any future
results, performance or achievements
expressed or implied by such
forward-looking statements. Such
factors include, among others: the
Company's limited operating history
and variability of operating
results; competition in the
electronic verification and commerce
market; the ability of the combined
companies to successfully offer the
market expanded verification and
privacy tools and e-commerce
capabilities and services and the
market's acceptance of such
offerings, and other risk factors
referenced in this release. |
