Search
Close this search box.
Search
Close this search box.

iDenfy’s 4-step Identity Verification Refines Paynovate’s Security System

Paynovate and iDenfy

The payment company joins forces with iDenfy to create trusted identities

iDenfy, a full-stack identity verification, compliance, and fraud prevention business, formed a partnership with Paynovate, a Belgian provider of simple, secure, reliable, and innovative electronic payment solutions. iDenfy’s user-friendly ID verification solution helps spot fake identities fast and prevent fraudulent activity. 

While the online world can make things simpler, there’s a darker, riskier part of it, full of opportunities for scammers to attack. From fake shopping websites and phishing attacks to fast scams, credit card fraud remains one of the most common scams on the internet.

Recent data from US Switch shows that in 2019, over $30 billion were lost to credit card fraud. The future forecasts are just as alarming, with card fraud transactions projected to hit $40 billion by 2027. While some internet users are aware of the dangers online, many businesses still need to adapt to the changing scenery of the digital world. The simplest answer to achieve this goal is secure, automated fraud prevention tools.

Cyber security is a top priority for payment solution specialist Paynovate; fraud prevention tools are essential, especially as they work in the Business-to-Business (B2B) field with customers varying in size from organizations of 2 to 200. Paynovate provides its B2B clients with in-store, vending, and online acquiring, as well as Visa payment card, issuing, and Belgian IBAN bank accounts; their solutions enable simple, secure, and reliable payment flow management. This includes issuing payment cards and the provision of Belgian IBAN bank accounts compatible with the SWIFT and SEPA schemes, as well as a large number of other direct debit and bank transfer solutions. Paynovate joined forces with iDenfy to ensure top-tier security with  ID verification solutions.  

iDenfy specializes in meeting identity verification requirements of Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations without compromising on user experience. Its unique, cost-effective strategy, where fraudulent or unfinished verifications are free, was only one of the factors that caught Paynovate’s eye. There is also the human factor; the authentication experts’ success and accurate results are ensured by real-time human supervision.

This newly implemented process and the partnership with iDenfy ensures that any errors or suspicious patterns were detected during Paynovate’s customers’ onboarding. The swift, certified by ISO/IEC 27001 standard ID verification from iDenfy added extra smoothness to the e-payment business’ security system. The process now takes a maximum of  15 seconds, and users can pick any device they prefer – from a smartphone or tablet to desktop. Consequently, Paynovate reached its target to have a spoof-free, AI-driven identification that reduces operational costs and protects its clients. 

According to the CEO of iDenfy, Domantas Ciulde, “This is a digital age that comes with a bunch of risks. That’s why organizations need to take a proactive approach. We’re glad to form such a partnership and help Paynovate secure its financial transactions from fraudulent activity and fake identities.”


Subscribe to Our Newsletter

Related Articles

Top Trending

NFTs in Real Estate
How NFTs Are Being Used in Real Estate and Property Ownership?
benny blanco net worth
Benny Blanco Net Worth: A Closer Look at His Wealth and Assets
Switch to Non-Toxic Cleaning Products
Beginner’s Guide to Switching to Non-Toxic Cleaning Products
Best Non-Toxic Cleaners for Grease, Mold, and Grime
The Best Non-Toxic Cleaners for Grease, Mold, and Grime
Passive House Tips for Northern USA Climates
10 Passive House Design Tips For Cold Climates (Northern USA)

LIFESTYLE

summer birthday party ideas
Creative Summer Birthday Party Ideas for Kids in 2025
May 6 Zodiac
May 6 Zodiac: Positive Traits, Compatibility and More about Taurus
self storage solutions for life transitions
How Self Storage Can Help During Major Life Changes (Divorce, Moving, etc.)?
why is my poinsettia dying
Why Is My Poinsettia Dying? Tips To Revive Your Wilting Poinsettia Plant
crypto retirement plan strategies
7 Ways Crypto Can Reshape Your Retirement Plan for the Future

Entertainment

benny blanco net worth
Benny Blanco Net Worth: A Closer Look at His Wealth and Assets
Trump Tariff on Foreign Films
Trump’s 100% Movie Tariff Plan Shakes Hollywood in 2025
Rihanna and A$AP Rocky Expecting Baby No
Rihanna and A$AP Rocky Expecting Baby No. 3, Confirmed at Met Gala
Lady gaga concert terror plot lgbtq targeted brazil
Foiled Terror Plot at Lady Gaga Concert Targeted LGBTQ+ Fans
Julia hart net worth
A Closer Look into Julia Hart Net Worth in 2025

GAMING

GTA 6 Release Date
GTA 6 Release Date Confirmed: Rockstar Sets May 2026 Launch
Common Mistakes New Streamers Should Avoid
10 Mistakes New Streamers Make (And How To Avoid Them)
Now.ggroblox
Play Roblox Online With Now.ggroblox Browser For An Ultimate Gaming Experience
Digital Ownership Lesson Gamers
The Digital Ownership Lesson Gamers Already Learned
h5firekirin
H5FireKirin Origins, Features, Gameplay Tips, and Rewards [Explained]

BUSINESS

How to Calculate Quarterly Tax Payments
How to Calculate Quarterly Tax Payments in 5 Easy Steps
credit suisse tax evasion
Credit Suisse Fined $511M for U.S. Offshore Tax Evasion Scheme
Trump Tariff on Foreign Films
Trump’s 100% Movie Tariff Plan Shakes Hollywood in 2025
executive finance education lbs cfo course
How London Business School’s CFO Course is Redefining Executive Finance Education?
keep wallet full beyond gift card limits
Keep Your Wallet Full When Gift Cards Fall Short

TECHNOLOGY

How Web3 Is Enabling Decentralized AI Networks
How Web3 Is Enabling Decentralized AI Networks
OpenAI Windsurf Acquisition
OpenAI Acquires Windsurf for $3B to Boost AI Coding Capabilities
How to Spot and Avoid Web3 Ponzi Schemes
How to Spot and Avoid Web3 Ponzi Schemes
Acer Predator Helios 500 17 AMD Laptop Review
Acer Predator Helios 500 17 AMD Laptop Review, Specs, Tests, and Prices
NFC Technology
What is NFC Technology?

HEALTH

Connection Between Hydration and Urinary Health
The Connection Between Hydration and Urinary Health
Neuralink Brain Implant Patient Regains Speech
Neuralink Brain Implant Helps ALS Patient Regain Speech with AI Support
Wegovy for Weight Loss
Wegovy for Weight Loss: Is It Worth Buying Online?
Role of Sperm DNA Fragmentation Testing in IVF
The Role of Sperm DNA Fragmentation Testing in IVF with ICSI Success
Online Yoga Certificate Course
Why an Online Yoga Certificate Course is the Key to Advancing Your Practice