ID Verification Marketplaces
Streamlined, Secure Identity Verification for Marketplaces
100% Automated identity verification for friction-free workflows, a streamlined onboarding process, and safer communities in marketplaces.
Marketplaces Are at Risk for Fraud
Marketplaces like yours are growing rapidly– and so are the fraud risks. Get visibility into your users with identity verification to reduce fraud and grow your business.
Impact numbers courtesy of Amazon and BusinessWire.
Use Cases in Marketplaces
Accelerate the global growth of your online marketplace while keeping your customers’ trust. Instant, accurate business verification and customer verification means good customers and vendors are in–and fraudsters are out.
- Account Enrollment and Onboarding
- Age Verification to Ensure Underage Users Can’t Create Accounts or Make Purchases
- Fraud Detection & Deterrence
- Login Protection w/ Ongoing Biometric Authentication
- KBA & Database Lookup Replacement
- KYC, KYB, and AML Due Diligence Compliance
Trusted Identity Verification for Marketplace Leaders
Maintain regulatory compliance, prevent fraudulent account openings, and accelerate onboarding and authentication.
AuthenticID’s 100% automated identity verification technology delivers a convenient, secure, and fast verification experience for marketplaces, ensuring customers and sellers have the benefits of security and convenience.
Sellers and buyers carry different levels of risk- customize these identity verification process workflows to suit your marketplace’s needs with MFA, step-up authentication, and reauthentication.
Confirm the identities and details of vendors and individuals and stay compliant with KYB and KYC regulations.
Alleviate friction and maintain trust during seller onboarding with comprehensive identity verification that authenticates users in real-time with facial biometrics.
Grow your marketplace and reduce abandonment with frictionless identity verification and reauthentication.
Detect fraudsters and create a “bad actor” watchlist, all while keeping customers happy.
Keep users safe and ensure minors do not access age-restricted content and products.
Enhance Your IDV Strategy
- Diverse Marketplace Risks: Unique fraud threats
- User Journey Vulnerabilities: Multiple stages of fraud
- Fraud Solutions: Advanced IDV measures
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Product Recommendations
Our portfolio of products offers a complete identity verification platform for marketplaces to meet any business’s compliance and identity verification requirements.
AuthenticID’s facial biometric technology provides a fast, simple way to authenticate an individual by matching a person’s selfie to the photo on a government-issued ID, profile picture, or any other image of a person’s face with complete accuracy.
Growing Fraud Threats in Marketplaces
With great growth comes greater threats from bad actors and fraudsters. Bad actors are escalating their identity theft attempts on marketplaces and their users, both buyers and sellers.
Fraudsters use deceptive practices on digital platforms to steal payments, identities, and financial information. Common methods include:
- Fake or identities, with false qualifications, histories, and reviews
- Stolen profiles and account takeovers
- Misrepresented or no-show goods and services
- Defrauding workers and providers of payments
- The sale of counterfeit products
The damage can go beyond the cost of direct losses by driving away both new and existing users. Unmitigated fraud on your site can devastate your brand’s reputation.
FAQs About Marketplaces
READ MORE FAQsID verification for marketplaces is the process of verifying that sellers and customers in a marketplace are who they say they are. ID verification ensures buyers and sellers can do business with confidence and keeps out fake buyers or fake sellers. ID verification for marketplaces can operate quickly via automated processes and may include identity document (ID) verification, biometric authentication, and reauthentication. ID verification offers regulatory compliance with KYC, KYB, and AML requirements and regulations and prevents fraud.
AuthenticID’s identity verification for marketplaces maintains the highest standards for privacy and security and is compliant with all applicable regulations, including Know Your Customer (KYC), Know Your Business (KYB), and anti-money laundering (AML) regulations. These regulations require marketplaces to know and verify their users to prevent penalties and hefty fines.
AuthenticID’s ID verification solution for marketplaces harnesses AI and machine learning technology for 100% automation. Customers and sellers alike have a streamlined, frictionless experience with our suite of technology, including ID verification, biometric authentication, and fraud-fighting technology like Fraud Shield.
Our solution offers instant decisioning and maintains the highest standards of trust and security, compliance with all industry and government regulations, and reduces the risk of fraud, including payment fraud and account takeover attacks.
Schedule My Demo
Find out why AuthenticID is the undisputed leader in identity processing and see how we can help your organization mitigate risk, convert customers, and reduce operational costs with our frictionless ID proofing solutions for ultimate security.