Paays, a leading global payment solution provider, has announced an exciting partnership with Yoti,
a renowned digital identity verification platform. This collaboration aims to effectively combat identity
fraud by implementing innovative solutions in the payment industry.
Identity fraud has become a growing concern, particularly in the digital landscape where increasing numbers
of financial transactions take place online. Cybercriminals continually develop sophisticated methods to exploit
vulnerabilities in the payment process, posing threats to businesses and consumers alike.
Through this strategic partnership, Paays and Yoti are set to revolutionize the way identity verification
is conducted during payment transactions. Paays will integrate Yoti’s powerful ID verification technology
to authenticate customers, thereby increasing security and minimizing the risk of fraudulent activities.
Yoti’s cutting-edge technology harnesses biometric and document authentication, alongside AI-powered facial
recognition software, to verify the authenticity of individuals. By leveraging this technology, Paays aims
to ensure that only legitimate customers are approved for payment transactions, effectively preventing the
use of stolen identities.
This collaboration will significantly benefit e-commerce businesses, merchants, and consumers, who will enjoy
enhanced security and peace of mind while conducting online transactions. Fraudulent purchases and financial
losses can be substantially reduced with the implementation of robust identity verification measures.
Paays and Yoti have a shared commitment to providing state-of-the-art solutions that prioritize security
without compromising user experience. By utilizing Yoti’s technological advancements, the partnership
aims to instill trust and confidence in the payment process, fostering a safer and more reliable environment
for both businesses and consumers.
To learn more about the partnership between Paays and Yoti, visit their respective websites:
Source: Paays Newsroom