We are thrilled to announce our partnership with Mamo Pay, a full-stack payment service platform for SMEs and a digital wallet app for end customers, to add an extra layer of safety and security to their platform.
Mamo Pay is a quick, easy, and secure way to send money to anyone in the UAE using their phone number or email address. Mamo Pay allows anyone to receive and request money from anyone worldwide using a payment link. Veriff adds an extra layer of safety and security to their platform through online identity verification. We talked with Shruti Patel, Head of Compliance at Mamo Pay about their partnership with Veriff and how the collaboration has been so far.
Mamo Pay is a full-stack payment service platform for small and medium-sized businesses in the United Arab Emirates. We help businesses tackle challenges related to payables, receivables, and other business-related insights and offer a free digital wallet app to consumers for peer-to-peer money transfers.
As a regulated company by the Dubai Financial Services Authority (DFSA), online identity verification is essential to ensure that we maximize our efforts to prevent fraud and comply with UAE regulations to avoid money laundering and transaction fraud.
We use Veriff on the Mamo Pay side of business, which is for individual customers who are being onboarded to our digital wallet app. We ensure we do not onboard fraudulent users. Veriff enables us to prevent users with forged Emirates ID documents from being onboarded, and helps us to spot suspicious activity within videos taken by the user when taking a selfie and uploading their ID. One of the main issues faced is fraudulent users that try to forge documents and leverage advanced technology to bypass internal controls.
We discovered Veriff while searching for advanced KYC solutions and a reliable partner with a good reputation in the KYC space. We moved to Veriff from our current identity verification provider in July 2022 because of Veriff’s good reputation in the industry and ease of integration.
Veriff is a great partner for us. The support over at Veriff is really helpful, and our regular check-ins with them help us align our visions and operate seamlessly, so our experience with Veriff has been amazing so far. We look forward to growing together and ensuring that we work hard to offer safe financial services to our customers.