PayU, the payments and fintech business of Prosus, today announces its collaboration with AU10TIX, an identity management company, to screen customers and ensure a frictionless onboarding process.
The PayU-AU10TIX partnership will streamline the merchant onboarding process by utilising AI and automation to rapidly authenticate identities. The new service will be used to verify the identities of individuals or representatives of businesses connecting to PayU directly or via marketplaces powered by PayU’s payments solution.
PayU’s partnership with AU10TIX means that identities can be validated in seconds, enabling PayU to maintain its reliable and efficient merchant onboarding and re-verification processes. As the risk of criminals using online platforms to conduct illicit activity increases, this collaboration will also ensure that PayU’s processes remain streamlined and secure for both shoppers and merchants, further strengthening PayU’s crime-prevention capabilities. With AU10TIX’s innovative technology, PayU can continuously optimize its services to ensure more accurate identity verification, increased automation levels, and greater security for fighting the latest fraud attack vectors.
AU10TIX’s deep learning algorithm knows when an ID is manipulated, and the partnership with AU10TIX will further allow PayU to overcome the growing threat of synthetic identities. Using automated and innovative technologies may also allow PayU to introduce additional measures to further strengthen security in the future.
The AU10TIX integration has initially been implemented in Poland and Czech Republic and will soon be introduced across EMEA markets and elsewhere around the world, including Latin America which has seen an e-commerce boom since the start of the pandemic.
Andrzej Bassara, Chief Operations Officer of PayU: “The number of international merchants cooperating with PayU is growing exponentially, necessitating collaboration with companies like AU10TIX, a market leader in identity verification, to offer our clients the most efficient on-boarding and re-verification process.”
“AU10TIX is meeting our customers’ expectations around security by offering an automated solution that utilises advanced AI to accurately authenticate identities without the need for a human agent to review. An automated ID authentication process will rely upon an algorithm which will allow for customers’ identities to be confirmed in real time, making PayU’s processes more streamlined and secure.”
Carey O'Connor Kolaja, CEO of Au10tix: “Preventing identity fraud is at the core of what we do at Au10tix, and we are delighted to support PayU in their efforts to automate the merchant onboarding process. Our collaboration will ensure that PayU can continuously offer their users a safe and secure experience, while increasing the efficiency and pace of the processes to confidently verify identities.”