REPORT

Download our report: Perfecting Payments

The peer-to-peer (P2P) payments market is booming. Regulatory compliance is a major pain point for P2P payment providers looking to capitalize on dramatic growth within the payments segment. Interested to know how identity verification technology is transforming the payments sector?

Discover the latest trends and get all the actionable insight you need to fight fraud, stay compliant, grow globally, and build trust with your customers.

The peer-to-peer (P2P) payments market is booming

They’re faster, simpler, more reliable, more convenient, and often cheaper than conventional payments. They also allow users to transfer money at the touch of a button, while keeping their bank details confidential. But P2P payments platforms can also suffer from high rates of fraud.

Streamlined customer onboarding

“Fast, easy, and exclusively online” is a great selling point. However, it makes effective identity verification difficult and can lead to increased non-compliance and fraud risk.

Instant transactions

These are equally customer pleasing, but they reduce the time available to carry out anti-money laundering (AML) and counter-financing of terrorism (CFT) checks.