Philippines-based ecommerce app PayRemit has signed an agreement with IDnow Middle East to provide automated identity verification for the onboarding of PayRemit customers. PayRemit provides a payments solution for lower-income households to purchase items through low-cost instalments, from mobile phones to household appliances.

Through the agreement, PayRemit plans to employ IDnow’s experience in digital identity proofing and ensure secure, fast and convenient customer onboarding. Vincent Paul Grey, CEO from PayRemit explained concerning the agreement that IDnow will empower the company to improve the digital process of verifying customer identities, thus gaining the capability to enhance the speed, security and accuracy of customer onboarding. What IDnow has to offer for PayRemit users PayRemit will deploy AutoIdent, IDnow’s automated, AI-powered identity verification.

AutoIdent enables a prompt authenticity verification for their customers through their identity documents, making digital onboarding processes scalable and secure. PayRemit started in 2017 and has since focused more on enabling lower income workers to purchase items in the Philippines and the UAE. Around 52% of the UAE workforce are blue-collar workers, supporting a variety of sectors including construction, domestic work, transport, healthcare, manufacturing, security, and more.

Customers can enjoy a growing range of products, with new items added weekly and the ability to better manage cash flow across convenient monthly instalments. Products can be bought in either the country of employment (UAE) or sent to families abroad (the Philippines). IDnow’s recent funding round and partnerships In early August 2022, IDnow has received a new EUR 60 million debt facility from BlackRock.

The debt facility will enable IDnow to leverage its existing identity platform. The company intends to use the capital to scale investments across a range of strategic initiatives, including the introduction of new identity proofing solutions, continued geographic expansion, and potential acquisitions. The company augmented its platform with AML screening and monitoring in July 2021, to enables a combined screening of users against certain global watchlists to make a risk assessment and to avoid violating various sanctions.

Sticking to AML, the company has also launched video identifications in the same year. Users can use the service to perform non-automated identity verification procedures at any time due to the overnight operation, while being AML-compliant. .