iDenfy, a leading Lithuania-based identity verification service provider and mPay, a renowned Polish supplier of m-payment solutions, announce a partnership to help mPay users become fully KYC verified customers.
Operating since 2013, mPay enables its users to execute financial transactions using mobile devices. Besides this, it also allows people to buy transport tickets, pay for parking, and top up prepaid phone accounts straight from their smartphone or tablet using mPay mobile app. However, since online payment scams are getting more common in the country, the Polish government has made it obligatory for financial service providers to comply with KYC. The objective of KYC guidelines is to prevent banks and e-commerce payment systems from being used by criminals for money laundering and such other activities.
iDenfy offers real-time identity verification service by turning a customer’s device into an I.D. verification terminal and face recognition system. The company will lend all its advanced identity verification solutions to mPay so that they can meet KYC (Know Your Customer) and AML (Anti Money Laundering) requirements.
iDenfy’s automatic I.D. document detection solution can identify more than 1300 types of documents from more than 200 countries. It means mPay will be able to scan any I.D. document and find out if it is forged or tampered.
With iDenfy’s face recognition solution, mPay can recognize the facial biometrics of their users. This in-depth analysis will help them find out if their users have submitted a legit I.D. document.
Domantas Ciulde, the CEO of iDenfy, says, “We’re thrilled to enter into the Polish market, and our partnership with mPay will bring a positive change in the Polish mobile payment sector.”
Krzysztof Hejduk, the CEO of mPay S.A., says, “The overarching goal of our business development strategy is to make the lives of our app users as comfortable as possible. We constantly strive to ensure that our customers are able to use the most innovative solutions at every stage of the service process to save time and increase convenience. We are pleased that, thanks to our cooperation with iDenfy, mPay is now the first app on the Polish market to use identity verification with a selfie – a functionality until now only available to bank customers”.
The partnership between these two innovative companies will also help the larger mission of the digital payment industry in Poland. Not only will it improve people’s trust in mobile payment apps like mPay, but it will also prevent the use of such platforms for fraud and money laundering activities.