Ireland-based financial fintech company, Stripe, has launched an identification verification tool called Stripe Identity in 30 countries across the world. Early adopters of the tech include Discord, Peerspace and Shippo.
Stripe says the new tool will help online businesses securely verify users’ identities worldwide, which will help prevent fraud, simplify compliance, and increase trust.
Stripe Identity is built on the company’s own global onboarding compliance and risk management infrastructure. It will allow any business to verify an individual’s identity “in as little as 15 seconds”.
Popular online chatting forum Discord uses Stripe Identity to verify the identity of everyone in their community and make sure they’re trustworthy.
“Building our verification program on Stripe Identity has helped our users keep their identity information safe and secure. As Discord continues to grow, making everyone feel welcome and safe remains a top priority. Partnering with Stripe Identity was a natural fit for this project,” said Mason Sciotti, Product Manager at Discord.
Peerspeace uses it to verify merchants and users when onboarding to prevent fraud. Shippo uses it to verify the identity of high-risk users.
Stripe also says that security teams are using the tool at several companies to mitigate account takeovers.
The verification flow is hosted by stripe if the companies opt for low-code integration. They can also generate verification links to assess suspicious transactions.
The information is encrypted and sent to Stripe — similar to Stripe’s hosted payments pages — and the businesses don’t have to worry about processing the personal information of users.
“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. 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.
Stripe Identity adds to the company’s suite of integrated products including Stripe Tax, Payment Links, Stripe Issuing, Radar Analytics, and others.