LibraryblogHow identity verification combats fraud and powers growth for BNPL providers

How identity verification combats fraud and powers growth for BNPL providers

Buy Now Pay Later (BNPL) is growing rapidly due to customer demand, but online fraudsters pose a significant threat to today's providers. Discover why identity verification can ensure a swift, seamless, and secure process for businesses and customers.

Chris Hooper
Director, Content
March 7, 2023
Blog Post
Identity Verification
On this page
Why Veriff

As a result of customer demand, the Buy Now Pay Later (BNPL) sector is set to grow astronomically within the new few years. However, this attracts the attention of online fraudsters, endangering businesses and customers. Discover how identity verification offers the key to optimizing BNPL processes, minimizing the risk of harm.

Fast decisions

A 98% check automation rate gets customers through in about 6 seconds.

Simple experience

Real-time end user feedback and fewer steps gets 95% of users through on the first try.

Document coverage

An unmatched 10K+, and growing, government-issued IDs are covered.

More conversions

Up to 30% more customer conversions with superior accuracy and user experience.

Better fraud detection

Veriff’s data-driven fraud detection is consistent, auditable, and reliably detects fraudulent forms of identification.

Scalability embedded

Veriff’s POA can grow with your company’s needs and keep up with times of increased user demand.