System makes it easy for businesses to verify the identity of customers.
Namecheap has launched a new identity verification service using a great domain name: Validation.com.
The service lets businesses confirm the identity of customers for various purposes, including chargeback prevent and Know Your Customer (KYC) rules.
Businesses using Validation.com create a submission link for their customers and select which identity documents need to be submitted. This can include a government-issued ID, a utility bill, etc.
Typical scenarios include a company validating a government-issued ID against a selfie or verifying that the name on a credit card matches an identity card.
Validation.com does not check the information against databases. Instead, it’s a self-service tool for businesses to carry out the validation level they are comfortable with.
This type of process might sound familiar to domain investors; users of Escrow.com have to provide similar documentation as part of the company’s KYC rules. But setting up a process to handle this sort of verification is beyond the reach of many small businesses, and a hassle for larger businesses.
The product solves another big problem, too: while companies can do identity verification manually, that means receiving sensitive data. Between GDPR and regulations coming to the U.S. (such as the California Consumer Privacy Act), small businesses need to avoid handling sensitive data. Validation.com does it for them.
It also gives trust to the consumer who has to share the information. Using a great domain like Validation.com certainly lends credibility to the process.
Plans start at $19 per month.