fbpx

June 15, 2021Blog Posts

Stripe goes beyond payments with Stripe Identity to provide AI-based ID Verification for transactions and much more

TechCrunch

A number of startups (e.g. hereherehere and here) have fashioned themselves as the “Stripe for identity verification”, providing an easy way for developers to integrate ID authentication into a platform. Today, Stripe is stepping in to fill that need itself: The company is launching a new product called Stripe Identity — a self-serve tool that companies can use to verify user identities, with Stripe managing the customer data in an encrypted format, using computer vision and machine learning to “read” and match up government IDs with live selfies.

Stripe says the service works in as little as 15 seconds.

The service is launching in beta starting today in 30 countries, the company said, but in the meantime, it’s already quietly been in use by select partners. They include Discord (as part of its ID verification feature); Peerspace (which runs ID verification when onboarding users and merchants); Shippo (when when it identifies high-risk users and asks them to verify themselves); and other unnamed customers using it to prevent account takeovers.

Developers can go here to request access, and it sounds like Stripe will be talking more about the service in general during Stripe Sessions, its developer conference, later this week.

“Businesses have been asking us for an easy and fast way to verify identities online. Stripe Identity offers them just that,” said Rob Daly, head of Engineering for Stripe Identity. “Now, any internet business — from a five-person startup to a multinational enterprise — can begin securely verifying the identities of their users in a matter of minutes, not weeks or months.”

File:Stripe Logo, revised 2016.svg - Wikimedia Commons

Source

TSG’s Directory of U.S. Merchant Acquirers, sponsored by FIS, the most comprehensive report available on U.S. merchant acquirers, featuring over 8,500 data points on more than 325 companies; covering national leaders to regional ISOs.

The Directory includes a printable snapshot providing a quick reference guide for executives to review merchant portfolio statistics. Additionally, high growth acquirers that reported 10% or more growth in volume, transactions, or merchants from 2019-2020 are identified.

No other industry directory contains the level of detail provided, which is why it is utilized as a reference tool by major media and payments players worldwide.

Download a preview | Subscriber? Download here.

  • Share this post: