London, UK – Jumio, Inc.,the fast growing online and mobile credentials management company, today announced that Optimal Payments, a leading global online payment solutions provider, has integrated Jumio’s Netverify® online and mobile ID document authentication service into its NETELLER® stored value service.
Jumio’s Netverify solution converts customers’ mobile device cameras or webcams into an ID scanning terminal, making it faster and easier to capture and verify ID and other credentials. Netverify, which is now integrated into Optimal Payments’ NETELLER stored value service, will help to improve the consumer experience and ensure continued compliance with anti-money laundering regulations.
The deal will enable consumers to make instant and secure payments online in a variety of sectors including entertainment, gaming, retail, financial services, travel and digital content using Jumio’s ID verification technology.
Jumio’s real-time ID document authentication has reduced NETELLER’s account verification process from an average of 12 hours to less than two hours. This eliminates over 10 hours of processing time per customer and accelerates the customer verification procedure by over 80 per cent.
Additionally, since integrating Netverify, NETELLER has been able to reduce by half the number of accounts where manual reviews or additional checks are needed. As a result, NETELLER is able to continue to comply with its “Know Your Customer” regulatory requirements while improving the customer experience.
Commenting on the deal Lorenzo Pellegrino, executive vice president of NETELLER, Optimal Payments said, “Our account verification process is now 80 per cent quicker, making it faster and easier for customers to pay online. Over three quarters of our account upgrades are now automatically processed through Jumio, saving hours of manual review time by our staff and benefiting our bottom line.”
“Credentials management technology like Jumio’s Netverify doesn’t just tick regulatory boxes but is also a differentiator to improve the customer journey. Security should not be synonymous with inconvenience and I am delighted that NETELLER is using Jumio to balance the twin challenges of security and convenience,” said David Pope, director of Marketing EMEA at Jumio.
About Jumio
Jumio is a leading identity management and credentials company that helps businesses reduce fraud and increase revenue while providing a fast, seamless customer experience. The company utilizes proprietary computer vision technology to reduce checkout friction and verify credentials issued from over 120 countries in real-time web and mobile transactions. Jumio’s products are leveraged by a wide range of companies, from Fortune 500 to startups, in the retail, financial services, shared economy, travel and gaming sectors. Founded in 2010 by CEO and serial entrepreneur Daniel Mattes, Jumio is backed by top tier investors including Andreessen Horowitz, Citi Ventures and Facebook Co-Founder Eduardo Saverin. Headquartered in Palo Alto, Jumio operates globally, with offices in the US and Europe, and has been the recipient of numerous awards for innovation from leading industry associations.
About Optimal Payments Plc
Optimal Payments is a global provider of online payment solutions, trusted by businesses and consumers in over 200 countries and territories to move and manage billions of dollars each year. Merchants use the NETBANX® platform and services to simplify how they accept credit and debit card, direct-from-bank, and alternative and local payments; and the NETELLER® service to increase revenues and capture new customers. Consumers use the multilingual and multicurrency NETELLER and Net+® Card stored-value offering to make secure and convenient payments. In addition, Optimal Payments Card Services, another division of Optimal Payments, provides innovative prepaid products and services to merchants. Optimal Payments Plc is quoted on the London Stock Exchange’s AIM, with a ticker symbol of OPAY. Subsidiary company Optimal Payments Ltd is authorized and regulated as an e-money issuer by the UK’s Financial Conduct Authority (FRN: 900015).
For more information on Optimal Payments visit www.optimalpayments.com or subscribe at www.optimalpayments.com/media/email-alerts or Twitter.
For more information on Jumio please contact:
Media Contacts
SkyParlour
Matthew Pears
[email protected]
+44 (0)7718 190 451
For more information on Optimal Payments contact:
Media Contacts – United Kingdom:
Andrew Dunn/Simon Fluendy
Tavistock Communications
+44 20 7920 3150
[email protected]