Stripe launches Stripe Identity, an identity verification tool to increase trust online

According to the press release, Stripe Identity facilitates identity verification and is built on the same infrastructure that powers Stripe’s own global onboarding compliance and risk management, meaning that the verification tooling Stripe originally built for itself is now available to Stripe’s users as well. 

Stripe Identity is a low-code integration option that enables businesses to start verifying identities in minutes, with a verification flow fully hosted by Stripe. Alternatively, without any code at all, fraud and risk teams can generate verification links to assess suspicious transactions or high-risk users.

Furthermore, the information collected is encrypted and sent directly to Stripe, so an individual business doesn’t have to worry about managing sensitive, personal information on its own servers. Besides, to prove their identity, users take a photo of their government ID and a live selfie, which Stripe’s advanced machine learning then matches to the ID. Businesses can also request that users key in additional information to be checked against third-party records.