More and more transactions take place online every day. Many people take for granted that it is possible to obtain just about any item or service one may want with the click of a button.
For the business owner providing goods and services, you must verify the person’s identity intending to make a purchase. Since online transactions typically occur without a face-to-face meeting, a market has been created for verifying an individual’s identity using data points other than facial recognition.
An ID verification provider helps a business owner ensure that the person making a purchase is who he says he is. Employing an identity verification system protects businesses from threats as serious as money laundering scams and other dangerous individuals, as well as from young people committing birth date fraud to purchase restricted items such as certain video games, alcohol, or other substances.
Here are a few things to consider when choosing an identity verification service for your business.
Be Aware Of The Laws
What is required of you by local, state, and federal governments? Some businesses are mandated to collect certain information from potential clients based on the product or services sold. To comply with regulations, the verification service you choose has to obtain data that fulfills the requirements. Another way that you can protect yourself is by ensuring that the verification company you decide to work with has up-to-date security standards, appropriate storage practices for customer data, and has a strong track record for following rules and regulations.
Know What You Need
Similarly, be clear about your purposes for choosing an ID verification service. Do you need a system that can check an individual’s identity extensively because you trade in local products, or do you need something more essential to ensure that you’re selling to a human and not a robot?
Most companies want to know more about their customers, such as what technology they are using to search for products and make purchases. This information allows a company to curate the functionality of their website or the payment options more easily. If you’re looking for this level of security, make sure that the service you choose is malleable to your purposes.
Consider The Data Source
The data source is crucial for keeping shady businesses away and making it simple for legitimate customers to purchase a product. Data sources such as utility databases, motor vehicle registrations, credit files, and postal service databases are legitimate ways to verify an individual’s identity.
Quality identity verification providers will have access to these types of sources. Be wary of anyone who claims to have a way to verify identity without going through official channels.
Ask About The Number Of Sources
Verifying identity isn’t as simple as checking someone’s social media page or entering their name into a search engine. For a quality background check, several different sources need to be used. This technique allows data to be cross-checked on various sites to fill out the individual’s profile entirely.
Examine The Data Entry Process
The way information is sought matters. Birthdates, for example, can be expressed in different formats. Depending on a person’s country of origin, he may write the day he was born before the month, which could alter the outcome of the search results if the verification system doesn’t account for that type of variation.
Identity verification is an integral part of the online buying and selling process. A business owner needs to choose a professional, connected, comprehensive, and thorough service in their investigative process to be confident that the data coming back to him is trustworthy.