ShopBack, the Asia-Pacific shopping and rewards platform, has turned to ID verification provider AU10TIX to boost the customer onboarding process for its new buy now, pay later (BNPL) offering.
Founded in 2014 and now serving more than 30 million shoppers across 10 markets. ShopBack is aiming to to be ‘the last checkout point for Singapore and Malaysia shoppers with its new PayLater option.
It follows its acquisition of Asia’s omnichannel BNPL service hoolah to help merchant partners increase conversions and basket size while driving customer loyalty. The Singapore-based cashback platform also recently raised $80million in new capital led by Asia Partners.
This partnership with Israeli firm AU10TIX enables thousands of ShopBack merchant partners in Singapore and Malaysia to complete a know your customer (KYC) verification process in less than eight seconds.
Hamish Moline, MD of financial services at ShopBack, comments: “AU10TIX was the obvious choice for us to partner with thanks to its unmatched speed and fully automated ability to detect complex fraud attempts that could potentially slip by other verification providers.
“We are excited for it to take our company’s technology vision to the next level, enabling technology-led business growth for merchants, and a secure, seamless shopping experience for millions of ShopBack Pay Later users, whether it be in-store or online.”
The AU10TIX platform
AU10TIX provides a fully automated identity verification technology powered by machine learning and artificial intelligence capable of facial recognition and real-time digital ID verification.
Founded in 2002, AU10TIX has balanced compliance, risk, and conversion for global brands including PayPal, Saxo, Uber, AirBnB, Payoneer and Prime Trust. In the last year, it has secured 18 new global partnerships including one with Microsoft.
Carey O’Connor Kolaja, CEO of AU10TIX, says: “Cybercrime has been pervasive due to the pandemic and many of our habits have changed around how we, as consumers, want to connect with businesses. We are proud to help Asia’s leading omnichannel BNPL ecosystem grow safely, helping merchants to increase conversion and consumers to afford responsibly, preventing fraud and reducing risk.”