Third-party verification company VoiceLog LLC today announced the availability of NetTPV, its newest service for verifying Internet-based business-to-consumer and business-to-business transactions.
NetTPV allows companies to prove that a consumer agreed to almost any kind of sale or other transaction, over e-mail or the telephone. To use NetTPV, a client company gives VoiceLog the agreement in question, along with the customers e-mail address or telephone number. VoiceLog then sends an e-mail to the customer or calls the customer, who then provides his or her agreement.
Since verification can only take place through the e-mail message or the telephone call, only someone with access to that e-mail account or telephone can authorize the transaction. And because VoiceLog maintains a record of every transaction, the company says it can vouch for the transaction.
In a just-completed experimental study of consumer reactions to electronic contracts, over 80 percent of respondents agreed that a transaction was harder to dispute because the verification was made and held by an independent third party, says Jim Veilleux, president of VoiceLog.