Digital customer onboarding – Revamping onboarding process in banks

Age Verification for E-commerce Platforms

A staggering 2.14 billion people are expected to shop online goods and services by the end of 2021. While it has brought new innovation to the table, age-exclusive e-commerce sites also create unforeseen challenges. A few examples of these digital products include alcohol, dating apps, e-cigarettes, and subscription of adult-themed online content. Merchants of these services need to make sure they are using proper ways and means of verifying consumer age, otherwise, they have to face serious consequences and penalties. [1]

Payment Cards

Today, children can easily bypass self-check and payment card authentication procedures required to buy online products. Since minors themselves aren’t eligible to purchase and consume these items, they use their parent’s credit cards to authenticate payments, and that too without their consent. Since children are not mature enough to know about an authentic platform, they often end up handing their details to a potential fraudster through an imposter website, which leads to a credit card or card-not-found fraud. 

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