Credit checks

Learn more about flexibly checking customers’ creditworthiness in real time.

What is a credit check?

Credit checks provide information on the creditworthiness of an individual or business. They are standard practice whenever there is a risk of default because the product or service changes hands prior to payment. In e-commerce, credit checks make sense for various payment modes: The merchant obtains an assessment of customers’ creditworthiness in real time.

  • Reduced default rates
  • Flexibly adjustable to different payment modes
  • Automated checks in seconds

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What is the purpose of credit checks in e-commerce?

A credit check can determine a customer’s ability to pay and thus prevent defaults. If a check reveals that someone has a history of not following through on payments, the merchant has various options for dealing with the situation. They include limiting the available payment options or completely rejecting the transaction. By performing checks up front, the merchant seeks to improve the odds of doing business with financially sound clients.

Creditworthiness Check

What does a credit check look at?

Various data are examined to analyze a subject’s creditworthiness. These can be available internally, in other words in the merchant’s own shop, or obtained from external sources, and may include:

  • Personal data
  • Payment history
  • Debt collection data
  • Bankruptcies
  • etc.

A scoring method is often used to derive a dependable assessment from the data and prevent defaults. The check can be performed in seconds during the ordering process, for example.

How can customers get information on their own creditworthiness?

To learn which data have been stored on them, every person has the right to carry out a free self-check. This is possible at various credit agencies.

Secure, fast and flexible: The benefits of credit checks

Consistent risk management

Customers’ creditworthiness can be assessed while they are ordering, without any unnecessary risks.

Flexible and efficient

Credit checks can be flexibly adapted to meet the needs and expectations of any shop.

Relevant for many payment methods

Credit checks reduce the risks associated with purchases that are conventionally invoiced or paid in installments, as well as many other payment methods.

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