Sending money to another person used to be slow, cumbersome and expensive; whether by cheque, bank transfer or using a traditional money service business, it meant physical processes, delays and fees. Not anymore! With digital identity verification, peer-to-peer payments are easy, instant and secure.
While the user experiences a seamless interaction, the technology behind the scenes to make it happen require expertise, diligence and intelligence. There are complex security and compliance requirements, especially when dealing with multiple jurisdictions and numerous vested parties.
One organization that has successfully cut through the red tape and technical complexities is Metal Pay. Metal Pay is a U.S. based company that has a presence in 24 countries and offers an FDIC-insured Cash wallet with its own account and routing number, and access to over 30 different cryptocurrencies. It allows users to buy, sell, trade, and send crypto using cryptocurrency trading pairs or fiat money and to send cryptocurrency to other Metal Pay users for free.
Onboarding global users in less than 60 seconds
Metal Pay was looking to improve its account opening process and needed an identity verification service. They needed a provider that could handle their list of complex needs:
- As the main differentiator for Metal Pay is offering a fast and intuitive customer experience, it’s imperative for the onboarding experience to be excellent.
- As a Money Service Business, they also had to ensure there was full compliance with strict AML and KYC requirements.
- Another significant need was the ability to operate in multiple markets and have the flexibility to expand quickly.
Trulioo successfully met Metal Pay’s business needs and exceeded their expectations as a trusted advisor for global identity verification.
As Marshall Hayner, Founder and CEO at Metal Pay stated “having a plan to expand globally, Metal Pay needed a partner that had the ability to complete verification for both individuals and institutions on an international level, while meeting all the KYC requirements, and Trulioo was the only company that was able to show us this global presence and expertise.”
More crypto: ID verification | KYC for crypto | Resources | Posts