Sumsub has partnered with dtcpay to integrate e-Know Your Customer (KYC) services into dtcpay’s digital wallet offerings, streamlining secure digital currency transactions for businesses.
Sumsub, a verification platform, will provide services in Singapore, Hong Kong, Dubai, UK, and Europe through the Singapore-based payments provider.
The e-KYC solution has been incorporated into dtcpay’s technology platform, aiming to equip customers with easily accessible onboarding processes, speedy multi-currency conversions, and online payments.
Penny Chai, VP of business development APAC at Sumsub, commented: “"As more businesses in the region, particularly those in the underbanked and unbanked segments, turn to payment service providers for their business operations, the imperative of secure, regulation-compliant payments has never been more critical. But navigating the complex regulatory landscape can be a formidable challenge. We see Sumsub’s role as a regtech service provider to simplify compliance processes and support more businesses in participating in the financial ecosystem. It’s an honour for us to collaborate with MAS-licensed dtcpay, a partner who is also dedicated to driving the growth of businesses and merchants in the region."
Alice Liu, CEO of dtcpay, stated on the collaboration: "Our partnership with Sumsub is instrumental in enhancing the security and efficiency of our services. Sumsub's eKYC solution enables us to streamline the onboarding process for our users, making it faster and more user-friendly. This not only ensures compliance with regulatory requirements but also improves the overall user experience. Additionally, Sumsub's advanced verification technology helps us maintain a high level of trust and security in our platform, which is crucial in the financial industry. Overall, Sumsub's eKYC solution plays a pivotal role in fortifying our commitment to providing a secure and seamless payment experience for our customers."