[May 25, 2022]

Prove Joins Visa Ready for BNPL to Enable an Authenticated and Frictionless User Onboarding Experience

Prove Identity, Inc. ("Prove"), the leader in digital identity, announced today it has joined the Visa Ready for BNPL (Buy Now, Pay Later) program. Prove will enable Visa's BNPL clients to streamline account opening and registrations while creating a seamless user experience through its Prove Pre-Fill onboarding solution. Powered by Prove's Phone Identity Network (PIN), Prove's Pre-Fill solution expedites the digital onboarding process by pre-populating a form with verified identity information tied to a phone number, while mitigating fraud.

Prove Pre-Fill auto-fills online applications with bank-grade data from authoritative sources, and authenticates consumer identities to thwart account opening fraud, such as synthetic identity fraud. Consumers benefit from a faster, easier, and mre secure sign-up process, and information is auto-filled in a privacy-enhanced fashion only with the customer's consent. The solution modernizes the account opening process by shaving off clicks and keystrokes that kill conversions, and can onboard customers in as quickly as ten seconds.

"It's critical for consumers to have frictionless and secure experiences when using wildly popular financial services tools such as BNPL," said Rodger Desai, Chief Executive Officer and Co-Founder of Prove. "The BNPL landscape can harness Prove to transform the underwriting and payments experience by removing friction and adding passive security, and we are proud to be joining Visa's program to enable these solutions globally, as digital identity technology continues to be vital in accelerating commerce and bolstering confidence in the fintech sector."

The Visa Ready for BNPL partner program will fast-track implementation and scalability of Visa's BNPL offering. Visa clients will have access to a diverse ecosystem of pre-vetted partners ready to support various aspects of a BNPL offering for both issuers and merchants.

Prove's solutions are used by more than 1,000 businesses across diversified industries, including 8 of the top 10 banks, 3 of the top 5 retailers, 2 of the top 3 cryptocurrency exchanges, 2 of the top 3 healthcare companies, and 6 of the top 10 insurance companies in the U.S.

You can find more information on the Visa BNPL Partner Directory here.

About Prove Identity, Inc. ("Prove")
As the world moves to a mobile-first economy, businesses need to modernize how they acquire, engage with and enable consumers. Prove's phone-centric identity tokenization and passive cryptographic authentication solutions reduce friction, enhance security and privacy across all digital channels, and accelerate revenues while reducing operating expenses and fraud losses. Over 1,000 enterprise customers use Prove's platform to process 20 billion customer requests annually across industries, including banking, lending, healthcare, gaming, crypto, e-commerce, marketplaces, and payments. For the latest updates from Prove, follow us on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005190/en/

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