Blockchain Press Releases
Checkout.com launches Identity Verification, a video-based AI solution that verifies customers in under 120 seconds
● Uber Eats uses Checkout.com Identity Verification (IDV) to streamline delivery driver onboarding
● Businesses can now verify customers seamlessly in under 120 seconds, 24 hours a day, seven days a week, from every country in the world
● Powered by AI, trained on billions of data points, it reduces identity fraud by analysing documents over a video stream
LONDON, July 11, 2023 /PRNewswire/ — Checkout.com, the global payments solution provider, today launches Identity Verification, its first product focused on improving the customer onboarding and identity verification process and expanding Checkout.com’s impact on customers’ digital experience.
Identity Verification utilises proprietary artificial intelligence and is trained on billions of identity and facial recognition documents. Built for businesses like Fintechs, Rental and Hiring companies, Gaming, and Government organisations, Identity Verification helps businesses scale by having a friction-free, compliant, and quick customer verification process. Developed on an expansive list of ID documents across 195 countries, Checkout.com Identity Verification can verify nearly every citizen in the world. In beta alone, it has verified over 10 million identities and identified over 1 million fraudulent identities.
Uber Eats Senior Operations Manager Baptiste Foulon, said, “We’re delighted to be working with the Checkout.com Identity Verification teams to take full advantage of their expertise so that we can guarantee the authenticity of every document provided and the best delivery experience for all independent delivery drivers using the Uber Eats app.”
AI-supported video-streaming to improve customer journey
Identity fraud is evolving, with deep fakes and deceptive documents growing in sophistication. Single-frame photos often fail due to poor image quality or are managed by a system that cannot keep up with new types of fraud. Checkout.com Identity Verification solves this problem by using 25 fps, 1000 images/flow video streaming. Using video mode on a mobile phone, customers now show an identity document and their face while the sophisticated AI guides users throughout the process, providing live feedback on how to show document authenticity and move their face so the AI can recognise them to combat fraud. It will also tell users if the document they are scanning is invalid, i.e. the wrong passport or driving licence.
“We deeply believe in the intersection between digital payments and online identity verification. Legacy systems requiring an appointment with a human being or limited to certain days a week are not conducive to the long-term growth of the digital economy. By utilising AI and algorithms trained on billions of data points alongside a video stream that simply requires an internet connection, we can now verify identity documents to facilitate customer onboarding and comply with KYC requirements quickly and accurately”, said Meron Colbeci, Chief Product Officer at Checkout.com.
Checkout.com Identity Verification removes the complexity of requiring a specific app or software compatibility and now allows users to verify their identity anytime and anywhere, requiring only an internet connection. Businesses can direct users to an interface with their logo and branding to facilitate a seamless experience in less than 120 seconds. Businesses can now onboard users 24/7, 7 days a week, without human interaction, all while building trust in the brand.
“The fact that Checkout.com Identity Verification uses live video to verify users’ face and identity document means that the process is simple, efficient, and very reliable for users. The user guidance provided by AI means that the KYC process is smooth and easy for our candidates as well”, said Camille Six, General Manager at leading recruitment platform, StaffMe.
Overcoming ID fraud through AI and machine learning
Identity Verification’s AI can quickly verify authentic identities across over 3000+ identity documents. By moving the identity document on the video, the AI can monitor hologram and colour changes common in most documents, as well as transparency and opacity. With the user doing a series of short and easy face movements, the AI can quickly identify possible deep fakes or fraudulent identity documents.
The platform’s time to verify from start to completion is 120 seconds for 90% of users. 70% of identities are verified in less than 20 seconds, and any identities that can not be verified in that time are passed to a dedicated team for a systematic human review. These experts have been trained by customs police officers on ID document security features and the methodology to assess a face match. To date, Identity Verification has identified over 1 million fraudulent identities in beta alone.
“The Checkout.com Identity Verification experience performed better than our usual process for converting our prospects into customers. Their promise looked great on paper and lived up to it in practice”, said Ophélie Robin, Director of Digital Innovation at Crédit Agricole Consumer Finance.
To learn more about Checkout.com Identity Verification, visit our website.
About Checkout.com
Checkout.com is a global payments solution provider that helps businesses and their communities thrive in the digital economy. Purpose-built with performance, scalability, and speed in mind, its modular payments platform is ideal for enterprise businesses looking to integrate better payment solutions seamlessly. Checkout.com is trusted by global companies like Sony, Wise, GE Healthcare, and Shein. With an international team spread across 19 offices worldwide, it offers innovative solutions that flex to your needs, valuable insights that help you get smart about your payments’ performance, and expertise you can count on as you navigate the complexities of an ever-shifting world. Find out more at www.checkout.com.
View original content:https://www.prnewswire.co.uk/news-releases/checkoutcom-launches-identity-verification-a-video-based-ai-solution-that-verifies-customers-in-under-120-seconds-301873160.html
Blockchain Press Releases
Africa Exclusive: Bybit Promotes Crypto Education with P2P Security Webinar
DUBAI, UAE, Nov. 22, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, sets out to raise awareness of P2P security and to equip users with the latest anti-fraud knowledge and tools in a new learn and earn event exclusively for users in Africa. Hosting a P2P security Webinar on Nov. 25, Bybit P2P will also be announcing a prize pool valued at 10,000 USDT for a new Africa-exclusive deposit event.
P2P Security Webinar
On Nov. 25, the live webinar on P2P security will be broadcast in the Bybit Africa Telegram group from 7 to 9PM UTC. Attendees may benefit from a comprehensive session on tips and the latest know-how on asset safety and counterparty risks. The free webinar will cover the following topics:
- Fraud detection: users will learn about signs of common scams and steps to verify payment authenticity.
- Staying safe with Bybit P2P: users get to discover Bybit’s security tools and the latest features to combat fraudulent attempts.
- Trading with confidence: users will gain practical advice and practical tips on how to trade safely.
The floor will be open for a live Q&A session after the sharing by Bybit P2P experts. Ahead of the webinar, attendees are invited to submit questions and the lucky ones will win 10 USDT if their questions are chosen by the speakers.
10,000 USDT Rewards for First-Time Deposits
From Nov. 25 to Dec. 15, 2024, new users who successfully sign up for a Bybit account and complete Identity Verification Level 1 may be eligible to share in a 10,000 USDT prize pool reserved for eligible users in Africa only. Users must sign up for the event and make a deposit via Bybit P2P to qualify and win up to 10 USDT, terms and conditions apply.
“Financial fraud is an age-old challenge and users must stay vigilant as scammers and fraudsters evolve. Bybit is constantly investing in our hardware and software to build the necessary guardrails for our platform. It does not take away the importance of user education, however, and we hope through engagements of this kind, we can help elevate the community on a path of growth,” said Joan Han, Sales and Marketing Director at Bybit.
P2P is an organic part of the crypto economy and helps to promote inclusivity in emerging economies. With Bybit P2P, users of all levels may access the user-friendly peer-to-peer trading platform to trade between themselves at an optimal, agreed-upon price. The service minimizes the need for the middleman, improving cost effectiveness while providing exchange-backed platform security.
Find out more about the event and eligibility at Bybit P2P.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/africa-exclusive-bybit-promotes-crypto-education-with-p2p-security-webinar-302314163.html
SINGAPORE, Nov. 22, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), a pioneer in digital payment solutions, and Polygon Labs, a software development company building the leading network of aggregated blockchains via the AggLayer, today announced their strategic collaboration aimed at unlocking the full potential of digital finance, focusing on the expansion and adoption of WUSD, WSPN’s flagship stablecoin.
WSPN has integrated Polygon PoS into its WUSD network infrastructure earlier this year. Now, this collaboration will focus on rapidly expanding WUSD adoption. Polygon Labs’s crucial liquidity support will be instrumental in bolstering WUSD’s mass adoption across various markets.
This collaboration will unlock opportunities to explore a range of innovative use cases for stablecoins, payments, and DeFi. Key areas of focus include facilitating payments and tokenization solutions for companies operating in Hong Kong SAR and Singapore, developing on-chain green finance projects tailored for African clients, and building robust DeFi platforms that leverage the strengths of both WSPN and Polygon technologies. These initiatives are strategically designed to address diverse market needs and drive the adoption of WUSD across a variety of regions and sectors.
By combining WSPN’s expertise in stablecoin solutions with Polygon’s advanced blockchain infrastructure, this collaboration will drive significant advancements in the digital asset space, particularly in emerging markets and the rapidly evolving DeFi sector.
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
About Polygon Labs
Polygon Labs is a software development company building and developing a network of aggregated blockchains via the AggLayer, secured by Ethereum. As public infrastructure, the AggLayer will bring together user bases and liquidity for any connected chain, and leverage Ethereum as a settlement layer. Polygon Labs has also contributed to the core development of several widely-adopted scaling protocols and tools for launching blockchains, including Polygon PoS, Polygon zkEVM, and Polygon Miden, which is in development, as well as Polygon CDK.
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View original content:https://www.prnewswire.co.uk/news-releases/polygon-collaborates-with-wspn-to-drive-stablecoin-adoption-through-wusd-302314191.html
DUBAI, UAE, Nov. 21, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to reaffirm its commitment to providing ease of access to digital assets for eligible P2P users in Africa at zero fee. Connecting buyers and sellers at no cost, Bybit P2P continues to be the benchmark for cost-effective and convenient trading experiences.
Since its launch in Jan. 2022, Bybit P2P has consistently provided a user-friendly platform for users seeking a safer way to participate in the digital asset class. The services are offered at no costs for merchants and takers in P2P transactions:
- Merchants: Merchants may post advertisements on Bybit P2P for free.
- Takers: Users may place an order through advertisements listed on the P2P platform at no costs. The offer stands across all fiat trading pairs. Third-party fees may incur depending on the payment method chosen, as the payment providers may charge a transaction fee.
P2P Fee Structure (Africa)
|
Taker Fee (Sell Page) |
Maker Fee (Sell Page) |
|
|
Bybit |
0 % |
0 % |
|
Competitor B |
0.5% on completed orders for certain trading pairs |
0 % |
In addition, Bybit has launched an exciting P2P Coupon Giveaway Campaign from now to Jan. 15, 2025. As part of this initiative, users can earn a share of up to 20,000 USDT in rewards by completing tasks such as depositing $100 or trading $50,000 through Bybit P2P. The rewards will be in the form of Bybit P2P coupons to be redeemed in the next purchase, making the zero-fee transactions an even better deal for winners.
“Bybit’s steadfast commitment to contributing to financial inclusion comes in all forms, and keeping our P2P services free for as long as we can, and for as many users as possible, is one of the ways to support the crypto community,” said Joan Han, Sales and Marketing Director at Bybit. “When users come to our platform with the hopes of generating income on their assets, we want to play a supportive role in helping them reach their personal financial goals,” she added.
P2P on Bybit offers an intuitive and cost-effective peer-to-peer trading platform, facilitating the buying and selling of two users’ holdings at an optimal, agreed-upon price between them. With Bybit P2P, users stand to benefit from Bybit’s enterprise-level security and advanced features including comprehensive built-in KYC and KYB verification mechanisms, rigorous asset management protocols, and 24/7 customer service.
Find out more about the event and eligibility at Bybit P2P.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bybit-waives-p2p-transaction-fees-for-users-in-africa-302313124.html
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