Traditional notions of identity in payments are quickly shifting, reflecting the growing use of an online component not just for card-not-present but also in-person transactions. It’s a changing dynamic further affected by criminal behavior, the speed of payments, and regulatory pressure. The need to ensure someone is authentically who they indicate they are is unending.
In this article published in Digital Transactions, LegitScript's Dan Frechtling and Kompliant's Leo Patching talk about the changing nature of identity verification in an AI-driven world, and how payments companies should rethink their approach.