Ipsidy Inc., a leading provider of an Identity as a Service (IDaaS) platform delivering a suite of secure, mobile, biometric identity verification solutions, and On The Fly POS, a subsidiary of The POS Lab, a U.S. based provider of innovative cloud-based payment solutions, announced they have signed an agreement to deploy Ipsidy’s biometric solutions to deliver enhanced identity assurance across its card-present and payment gateway merchant portfolios.
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On The Fly POS selected the Ipsidy IDaaS platform to enhance the security and operational efficiency of its merchant point-of-sale platform and its Electronic Merchant Gateway (EMG). Proof™ by Ipsidy will help On The Fly POS and EMG combat identity fraud during merchant onboarding. Proof harnesses mobile technology to capture and validate a government issued credential (such as a driver’s license), biometrically matches a selfie of the applicant to the credential, and thereby confirms the rightful owner of the document is present and applying for a merchant account.
AuthentifID™, offered through Ipsidy’s partnership with LoginID, will provide On The Fly POS with a FIDO2 strong authentication and passwordless solution that securely creates a digital chain of trust between biometrically verified individuals, their accounts, and their devices. Eliminating passwords helps reduce the costs associated with support-team assisted password resets—estimated by Forrester Research to run as high as $70 per reset. AuthentifID will also mitigate the security risks arising from stolen passwords, phishing, and account takeovers, and provide a more seamless login experience to the On The Fly POS platform and POS devices.
On The Fly POS plans to add Ipsidy’s IDaaS services to support customer identity proofing and authentication in the hospitality, nightclub, restaurant, retail, and sports stadium segments through direct sales and strategic partnerships with established ISO partners such as One Payment, a national leader in merchant processing. The anticipated uses include strengthening customer identity and age verification in both card-present and card-not-present sales to help merchants fight fraud and chargebacks, and offering secure, seamless passwordless login for its consumer-facing platforms.
“With increased rates of card-not-present fraud and familiar fraud chargebacks, the need for strong validation of identity in payment processing is self-evident.” said Manny Garcia, CEO of The POS Lab. “By adding Ipsidy’s mobile identity authentication services to our platform, we can deliver enhanced identity trust in digital onboarding and deliver the seamless convenience of biometric passwordless login to our US merchants and their customers.”
“Ipsidy’s facial biometric identity solutions are essential for delivering enhanced trust to the payments industry,” said Phillip Kumnick, Chairman and CEO of Ipsidy Inc. “Our IDaaS platform offers payment providers like On The Fly POS a suite of easy to integrate, PSD2 and W3C compliant identity verification and authentication solutions that combat fraud, improve conversions and deliver the highest level of identity assurance.”
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