A number of startups (e.g. here, here, here 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.
“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.”
TSG’s Directory of U.S. Merchant Acquirers, sponsored by FIS, is 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.
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