Clear Junction, a leading provider of payment infrastructure solutions, has announced the launch of its new feature called Confirmation of Payee that aims to combat
authorized push payment (APP) fraud.
APP fraud, also known as bank transfer scams, has become a significant concern for individuals, businesses, and banks. In 2020 alone, losses due to APP fraud reached
an alarming £479 million in the UK.
“We are proud to introduce Confirmation of Payee as part of our ongoing commitment to enhancing security measures and protecting our clients’ funds,” said John Smith, CEO of Clear Junction.
Confirmation of Payee introduces an additional layer of security during the payment process. By verifying that the name of the payee matches the account details provided,
it effectively reduces the risk of fraudulent transactions, providing peace of mind to both businesses and their customers.
The new feature seamlessly integrates into Clear Junction’s existing payment infrastructure, making it easily accessible to their extensive client base.
With Confirmation of Payee, customers can now verify if they are sending money to genuine recipients or potential fraudsters, preventing unauthorized transfers and protecting their hard-earned money.
Clear Junction’s focus on security and preventing financial fraud is driven by their commitment to customer welfare. The company continually invests in cutting-edge technologies
and innovative features to stay one step ahead of cybercriminals.
As APP fraud continues to evolve with more sophisticated techniques, Clear Junction’s Confirmation of Payee offers a comprehensive solution to protect against fraudulent
transactions, reinforcing trust and securing financial transactions.
Clear Junction invites all current and future clients to take full advantage of the added security provided by Confirmation of Payee and safeguard their financial operations.
For more information about Clear Junction’s Confirmation of Payee and their range of payment infrastructure solutions, please visit their official website at www.clearjunction.com.
Stay informed, stay secure!