In online transactions, it is nearly impractical to obtain a signed document of orders made by the customers. Third Party Verification (TPV) is now the defacto standard for transactions of all types where a legally binding authentication and confirmation are required. Many customers use TPV to have reliable documentation of their orders and other transaction types. TPV has been authorized by the Federal Trade Commission and Public Service commission for telecom service change. Phone verification is authorized and legally binding. The recorded verification is available for audit for a minimum of 24 months and the identity of person authorized can be established with the help of social security number, driving license, date of birth etc.

According to Wikipedia, the free encyclopedia, “TPV is a process of getting an independent party to confirm that the customer is actually requesting a change or ordering a new service or product .By putting the customer on the phone (usually via transfer or 3-way call), TPV provider asks a customer for his identity that is an authorized decision maker and to confirm his orders.” TPV provider allows companies to prove that a consumer agreed to almost any kind of sale or other transactions, using email or telephone number or both, and obtain a legally binding instrument in the process. These services are used by medical and health professionals, Local governments, Attorneys and many others.

Thus Phone verifications fills demand for legal authentication of documents, consumer interest and provide substantial fraud prevention.TPV is an important proof to electronic transaction .Majority of the people who use electronic contracts agree that a transaction are harder to dispute because the verification was made and held by an independent 3rd party. TPV is used in complex verifications and approval of Web transactions in conjunction with Address Verification Systems, IP, Geolocation, Phone type identity etc.

TPVs are designed to be flexible and are highly cost effective. They help in closing more sales and reducing the confusion of the customer. The TPVs services available today help in fast and provide convenient access to records. Simple yet reliable changes are made in the script from time to time. They comply with the regulatory bodies and interfere minimally in time-sensitive sales closings.

The functioning of TPV is simple. A 3-way call is established between the customer and his agent and the TPV service providers. The system asks the customer for his identity information to confirm his order and if they are the authorize decision maker. The script is designed in such a way so as to meet the unique situation a particular customer. Later, a permanent voice log of the customer’s agreement to purchase a product or service is created. This log may also cover certain Terms and conditions, by a neutral party who has no stake in that transaction. These recordings become a permanent record and verification of the switch. There is no need for transcription of the data. The records can be retrieved instantly by punching the switching customer’s local telephone number into the system.

According to Paul Heyward, head of IT (Proveout.com), "Online fraud is a common headache for vast majority of companies accepting credit/debit cards payments. Such services can significantly ease Merchant's and Webmaster's everyday work and essentially minimize fraud's possibility".

It’s here that call center companies like Ansafone Contact Centers that provide inbound call center services step in.