Working together, DirectID’s Connect widget and Shieldpay's payment engine allow customers to transfer funds online with digital escrow and trust services. The combined service will bring seamless identity verification during transfers, streamlining the Shieldpay customer experience without sacrificing security.
The professional services businesses relying on Shieldpay to transfer money in client fees and project finances, to the marketplaces bringing more security and digital escrow (fund holding) services to their buyers and sellers, can now benefit from DirectID’s 13,000+ bank connections.
DirectID’s officials explained that verifying the bank account details provided match those on file is one of the most proven and effective use-cases for Open Banking. They are happy Shieldpay has chosen DirectID to verify account ownership for digital escrow and trust services.
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