Prove Identity, Inc., a digital identity pioneer brings multiple solutions for digital consumers such as Pre-Fill solution. It offers a consumer identification system using a smartphone only. Since identity verification is an important aspect for individuals and businesses, both, streamlines and secures the entire process at the tip of fingers.
Prove is now a part of the Visa Ready for BNPL (Buy Now, Pay Later) program. BNPL solutions of Visa will be scaled and executed at a faster pace through Visa Ready for BNPL partner program. Consumers of Visa will meet pre-verified partners in a different ecosystem, who will empower the BNPL offering aspects for vendors and issuers.
Rodger Desai, Chief Executive Officer and Co-Founder, Prove, stated, “It’s critical for consumers to have frictionless and secure experiences when using wildly popular financial services tools such as BNPL. The BNPL landscape can harness Prove to transform the underwriting and payments experience by removing friction and adding passive security, and we are proud to be joining Visa’s program to enable these solutions globally, as digital identity technology continues to be vital in accelerating commerce and bolstering confidence in the fintech sector.”
Prove, through its Prove Pre-Fill enrolment solution will allow consumers of Visa’s BNPL program to simplify account opening and registration with a great user experience. The digital enrolment of Prove’s customers is done using Phone Identity Network (PIN) in which the application is processed by pre-filling a form based on verified identity information attached to a phone number and leading to reduced customer friction & fraud and KYC is an integral part.
Pre-fill is an innovative solution to avert account opening fraud, like synthetic identity fraud as it auto-fills the digital onboarding applications based on bank-grade data collected from trusted sources and confirms the identities of customers. The solution is apt for consumers also the forms are auto-filled with the consent of consumers and enhancing their data privacy and delivering easier, and faster application processing.