Singapore and Tel Aviv, Israel (June 27, 2022) — ShopBack, Asia-Pacific’s leading shopping and rewards platform, announced today that it has selected AU10TIX, a leading global provider of fully automated identity verification technology, to further enhance the company’s KYC (Know Your Customer) and customer onboarding process for its new ShopBack Pay Later service.
As the entry point for over 30 million shoppers across the Asia-Pacific, ShopBack aims to be the last checkout point for Singapore and Malaysia shoppers with its PayLater option, having integrated with Asia’s leading omnichannel BNPL service, hoolah, to help merchant partners increase conversions and basket size while driving customer loyalty.
AU10TIX’s platform is powered by cutting-edge machine learning and artificial intelligence (AI) capable of facial recognition and real-time digital ID verification and authentication that helps its customers continuously stay ahead of regulatory requirements and fight the latest vectors of synthetic fraud. This regional partnership enables thousands of ShopBack merchant partners in Singapore and Malaysia to provide an unrivaled customer experience by achieving the completion of the KYC verification process in less than 8 seconds.
“AU10TIX was the obvious choice for us to partner with thanks to their unmatched speed and fully automated ability to detect complex fraud attempts that could potentially slip by other verification providers. We are excited for them to take our company’s technology vision to the next level, enabling technology-led business growth for merchants, and a secure, seamless shopping experience for millions of ShopBackPay Later users, whether it be in-store or online,” said Hamish Moline, Managing Director of Financial Services, ShopBack.
“Cybercrime has been pervasive due to the pandemic and many of our habits have changed around how we, as consumers, want to connect with businesses. We are proud to help Asia’s leading omnichannel Buy Now Pay Later (BNPL) ecosystem grow safely, helping merchants to increase conversion and consumers to afford responsibly, preventing fraud and reducing risk,” said Carey O’Connor Kolaja, CEO of AU10TIX.
AU10TIX has been servicing the financial sector for 20 years, acquiring deep expertise in Customer Due Diligence and KYC as well as balancing compliance, risk, and conversion for global brands like PayPal, Saxo, Uber, AirBnB, Payoneer, and Prime Trust.
The ShopBack Group is Asia-Pacific’s leading shopping and rewards platform, serving over 30 million shoppers across ten markets. Founded in 2014, ShopBackers across the region come together with a singular mission: to make shopping Growing from a team of six back in 2014 to over seven hundred today, ShopBackers across the region come together with a singular mission: to make shopping rewarding, delightful, and accessible for all.
By joining forces with leading Buy Now, Pay Later (BNPL) player hoolah and with the launch of ShopBack Pay, the Group now also offers shoppers responsible and convenient payment options at checkout. More than half a billion shopping trips start with ShopBack each year. The Group powers over US$3.5 billion in annual sales for over 10,000 online and in-store merchant partners, across categories ranging from fashion, beauty, F&B, electronics, travel and more.
AU10TIX, an identity intelligence leader headquartered in Israel, is on a mission to obliterate fraud and further a more secure and inclusive world. The company provides critical, modular solutions to verify and link physical and digital identities so that businesses and their customers can confidently connect. Over the last decade, AU10TIX has become the preferred partner by major global brands for customer onboarding and customer verification automation—and continues to work on the edge of what’s next for identity’s role in society. AU10TIX’s proprietary technology provides results in less than 8 seconds, enabling businesses to onboard customers faster while preventing fraud, meeting compliance mandates, and, importantly, promoting trust and safety. AU10TIX is a subsidiary of ICTS International N.V. (OTCQB: ICTSF).