Canada-based cloud payment platform letus has teamed with identity services company Trust Stamp to provide transaction security for renters and landlords.
As online attacks become more common, passwords and VPNs are becoming less secure, according to the press release. letus (previously RentMoola) announces launch of facial biometric verification to protect landlords and tenants from synthetic identity fraud.
letus has created a smooth onboarding process with virtual identity verification, offering a tenant screening process through facial recognition, and opening up access to securitised peer to peer payments through letus’ zero-login marketplace, letus Xchange.
Trust Stamp’s officials stated that this partnership enables them to continue addressing cross-industry needs in fraud prevention and operational efficiency with a mission-aligned company that drives accessibility and inclusion in financial services for the rental space.
With half of all rental units in the US being owned by mom and pop landlords, and with 42.9 million Americans living in rental properties, there is a large underserved market within the industry that could benefit from access to flexible payments without sacrificing security, as per the press release.
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