CyberstarPay unites with iDenfy to ensure safe payments with remote identity verification
March 16, 2022 (PRLEAP.COM) Technology NewsiDenfy, the full-stack identity verification and fraud prevention business, partners with CyberstarPay, the digital payment provider. The newly implemented document authentication will help CyberstarPay detect fraudulent identities and onboard customers safely during the verification process.
Today, digital payments are shaping customers' habits. Many expect smooth, secure and swift money transfers. Physical cards have left the scenery and made space for virtual e-cards. Non-bankers and those who abandoned physical banking branches have turned to e-money institutions. The growing number of customers enlarged a bigger platform for scammers to strike. According to Juniper Research, eCommerce fraud losses exceed $20 billion annually, and the victims are mostly merchants who aren't familiar with the continuing fraud challenges. This leads many companies to prioritize security and find safe, efficient solutions that would help fight money laundering, data breach, or identity theft.
Being in the digital economy sector, CyberstarPay understands the importance behind such issues. The payment provider concentrates on delivering secure payment solutions for customers who are looking for an alternative to traditional banks. The company is fully authorized and regulated by the Czech National Bank. According to the payments hub, its mission is to provide not only secure but also very fast, instant payment solutions worldwide. For this reason, the businesses searched for more sophisticated forms of security that could ensure a positive customer experience. This is why iDenfy's identity verification won over its competitors.
According to iDenfy, payment authentication and identity verification are vital processes in the digital sphere. The business offers ID verification services and fraud prevention tools that help other companies maximize their security systems. iDenfy's solutions are fully automated as well as exclusively ensured by human supervision - an in-house experts team. By forming a partnership with CyberstarPay, iDenfy sped up the authentication process and guaranteed that only valid customers are onboarded to the e-service platform. With the newly implemented verification service, the users go through a four-step procedure, which takes less than a minute. On top of that, the identity verification provider guarantees that the online payment provider complies with all regulations and directives that battle money laundering.
"Our priority is customers' safety. We've prioritized secure, swift, costly solutions when looking for new identity verification providers. We've reached a new height with iDenfy's identity verification. We're happy that we've chosen partners that understand our vision and share the same values." - said Gabriela Trojnová, managing director of CyberstarPay.
"We're constantly searching for new ways on how to improve our identity verification solution and make it more accessible and customizable. More importantly, we're glad that our identity verification can help our partners solve compliance and security challenges without compromising user experience." - expressed Domantas Ciulde, CEO of iDenfy.