The system allows companies to easily verify the identity of customers.
Namecheap has launched a new identity verification service using a large domain name: Validation.com.
The service allows businesses to confirm the identity of customers for a variety of purposes, including Chargeback Prevention and Know Your Customer (KYC) policies.
Companies using Validation.com create a submission link for their customers and select the identity documents to submit. This can include a government issued ID, utility bill, etc.
Typical scenarios include a business validating a government-issued ID against a selfie or verifying that the name on a credit card matches an ID card.
Validation.com does not verify information against databases. Instead, it’s a self-service tool that allows businesses to perform whatever level of validation they’re comfortable with.
This type of process may sound familiar to investors in the field; Escrow.com users must provide similar documentation as part of the company’s KYC rules. But having a process in place to handle this type of verification is beyond the reach of many small businesses and a problem for large businesses.
The product also solves another big problem: While businesses can perform identity verification manually, that means receiving sensitive data. Between GDPR and regulations in the United States (such as the California Consumer Privacy Act), small businesses should avoid handling sensitive data. Validation.com does it for them.
It also gives confidence to the consumer who must share the information. Using a large domain like Validation.com certainly lends credibility to the process.
Plans start at $ 19 per month.