KYC/ID Validation
Conducting business on the internet means that we don't always know exactly
who we are dealing with. We need to take additional steps to verify the identity
of our customers. Know Your Customer (KYC) procedures help map the person online
to the person in real life. Acquiring Banks insist that online customers be
verified for fraud prevention, anti-money laundering and when necessary, age
verification purposes. At Lateral Payments Solutions we know the potential cost
of fraudulent transactions to your business and the ongoing cost of carrying out
individual KYC checks on customers. We have made sure that our system is built
to help you keep those costs down. Our flexible system lets you decide the
levels of ID verification that you need to perform to meet your business
requirements.
We are constantly building new partnerships in different regions to extend our
customer validation offering to cover new and untapped markets. Based on your
set criteria we can intelligently route your transactions to the relevant
provider to check individual customers against local databases and ensure a more
effective global fraud detection service.