As per the partnership, BitPay is using Onfido’s technology to meet KYC requirements and onboard new users to its platform in a secure manner. BitPay also helps Onfido expand into international markets where credit card payments are impractical, and deliver identity verification services to a large number of underserved global users.
Besides being able to accept payment in Bitcoin, Onfido is the KYC provider for BitPay. Moreover, using Onfido’s identity verification technology helps BitPay onboard more users faster. At the same time, Onfido helps BitPay meet its KYC requirements, keeping fraud off the platform without compromising BitPay’s ability to scale.
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