Know Your Transaction (KYT) – What is KYT and Why KYC isn’t Enough Today?
The write-up highlights Know Your Transaction (KYT), what is KYT, why ...
Identity Protection for Online Gaming
Identity verification is an essential part of the gaming industry. The online gaming industry is required by law to verify the age of their customers when they are not present. Preventing fraud and minors from using age restricted video games must be top priorities for the gaming industry. This presents an opportunity to introduce comprehensive identity verification solutions into existing systems to meet these goals.
Preventing Identity Theft
In customer not present environments, the chances of identity theft increase significantly. Gaming companies could benefit from introducing identity verification solutions in the following scenarios:
- New client onboarding
- Credit card payment processing
- Age-restricted content accessing
Gaming companies have a duty to ensure that the users in their systems are legitimate and protect the personally identifiable information (PII) of their users. There is an increase in scamming occurring in many online gaming platforms, where cybercriminals gain access to user accounts and steal their identity information. For many users, this can be detrimental.
These scammers can also gain access to legitimate user identity information, causing an increase in identity theft and fraud through video game platforms. Deploying identity verification solutions can help mitigate these risks and prevent fraud by detecting identity, device, location and activity-based fraud.
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Seamless Player Onboarding -
Regulation Compliance -
Budget Friendly ROI
Faster User Onboarding
IDMERIT’s identity verification solutions can speed up the customer onboarding process. It will reduce friction for the user during sign up and reduce account abandonment. Marketing dollars can add up and it is too expensive to acquire customers and then lose them during a lengthy, unfriendly, and time-consuming process.
Check Players and Detect Fraudulent Activity
The IDMERIT platform allows operators of online gaming systems to gain critical information about user identities by leveraging the force of rigid identity solutions. In online gambling scenarios, it is illegal for minors to play. Online casinos are responsible to uphold these laws and make sure they are enforced. Otherwise, they risk heavy fines for noncompliance with underage gambling laws.
Age verification is a key component of identity verification, so introducing these solutions into an online gambling platform is a no brainer. It gives online gaming companies the ability to check players identify suspicious activities and detect fraudulent transactions without compromising the player’s experience.
Our solutions offer KYC (Know your Customer) and Anti-Money Laundering (AML) compliance. Our low-cost solution will help you meet your compliance and due diligence goals and also protect your company’s bottom line.
Advanced Solutions that make Compliance and Regulation Obsolete
Know Your Customer (KYC) verification is critical in online gaming. Online gaming facilitates a customer not present environment, making it essential for gaming companies to verify their users. Doing this will ensure that users are of age to play certain games; furthermore, it will prevent fraudsters from having access to a game.
Secure Payment Processing
As an online gaming merchant, making sure your payment systems are compliant with the Payment Card Industry Data Security Standard (PCI-DSS) is an immense responsibility. IDMERIT provides solutions that can minimize that task.
Gaming companies must ensure that when payment processing takes place, it occurs from legitimate individuals. On top of that, they have a duty to make sure a customer is who they say they are. identity verification solutions can help meet these goals by offering comprehensive solutions that will prevent nefarious characters from running fraudulent credit card transactions.
Save Money in a Competitive Environment
The online gaming sector has grown exponentially in recent years and is expected to keep growing. Online gambling and eSports are becoming more common, leaders to this trend. With the great rewards of potential payouts that motivate online gamers come great risks of identity theft, fraud and data breaches. IDMERIT’s online gaming solutions will help your company mitigate these risks, so you can protect both your reputation and bottom line.
Recommended Solutions
IDMkyc
Our global API is a comprehensive source of identity information. This solution could be used to authenticate that the information a user provides during onboarding is accurate and legitimate. It does this by crosschecking the user-generated information against data found within official data sources. The level of verification is designed to assess threats and mitigate risks while ensuring all the data is treated properly and legally. This can help companies meet the highest regulated standards and build trust that is crucial to growth.
Learn MoreIDMscan
In customer not present environments, it may be necessary to check a user’s ID. This is especially important in age-restricted content scenarios like online gambling. IDMscan scans identity documents like national IDs, driver’s licenses and passports to verify that the identity document is real. It also connects to IDMkyc to validate that the information on the identity document as well. This can help prevent fraudsters from using a stolen identity to enter a gaming environment. It can also prevent minors from sneaking into an online gambling environment.
Learn MoreIDMdevice
IDMdevice leverages device data to determine if a specific device is at risk of performing fraud. The software analyzes a variety of different device information to determine if the device has patterns suggesting it will commit fraud. This would allow gaming companies to identify cybercriminals without the use of PII information. The effectiveness and usability of IDMdevice delivers identity checks that are reliable, secure and build trust between parties. Through official data sources, fraudsters are kept at bay while implementing ease of use as the future of identity becomes a reality.
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