Identity verification, fraud prevention benefit from boom in real-time payments

On a classic episode of The Simpsons, when Homer is shown a deep fryer that can “flash fry a buffalo in 40 seconds,” he bemoans: “Forty seconds? But I want it now!” The same spirit of instant gratification is fueling a global boom in real-time payments, and the need for digital identity verification tools to keep them secure is increasingly leading to a convergence of payments, identity and fraud prevention.

Real-time payment map from PYMNTS shows breadth of coverage

A new publication from PYMNTS maps the growth of real-time payments globally, and lists a number of milestones the technology has passed: the U.S. recently saw its largest instant payment yet, a $10 million intercompany liquidity management transfer. It notes social media firm X’s partnership with Visa in a plan to launch a digital wallet system to enable real time payments.

The map shows impressive coverage for real-time payments across the globe. Real-time payments are live in Mexico and the U.S., and expected to go live in Canada in 2026. Most of Europe is covered, save Ukraine, Belarus, Albania, North Macedonia, Montenegro, and Bosnia and Herzegovina.

Asia has full coverage except for North Korea, Papua New Guinea, Timor Leste, Myanmar, Laos, and Bangladesh. Australia is covered, while New Zealand is not.

India and Pakistan are live with real-time payments except for the Kashmir region. Saudi Arabia, Mongolia and Turkey all have coverage.

Coverage in Africa and South America is patchier, although most of the largest nations in South America have live real-time payments.

AuthenticID biometric ID verification delivers ‘bank grade security’ for payments

AuthenticID’s identity verification and fraud prevention tools will be integrated into Authvia to secure digital payments and prevent identity theft. A release says AuthenticID’s platform will support Authvia’s Text-to-Pay and Conversational Commerce products, which streamline transactions through secure text-based payments and payouts.

The integration of AuthenticID’s tech gives Authvia the ability to verify users in seconds, providing authentication for high-risk transfers, payments for high-value goods, and payouts from business to customer.

“As the demand for instant payments continues to skyrocket among consumers, so has the rate of identity fraud,” says AuthenticID CEO Reed Taussig. “Partnering with Authvia aligns perfectly with our mission – to combat fraud globally and provide businesses with a trusted partner to verify identities.”

Chris Brunner, Authvia’s CEO, says that by combining its patented text-to-pay and payout solutions with AuthenticID’s AI-driven fraud detection, the companies are delivering “a seamless, bank-grade security experience that businesses can trust.”

Belvo Pix enables payment with mobile phone’s biometric authentication

A release from Mexico-based digital financial services firm Belvo says large Brazilian payments provider OneKey Payments is “expanding its instant payment offerings with Belvo’s Biometric Pix.” Brazil’s Pix biometric payments system allows users to authorize transactions with their mobile device’s biometric authentication.

OneKey is adding the feature to its portfolio, to offer merchants a faster, more secure payment process that reduces friction and boosts conversion rates, while ensuring regulatory compliance and high scalability.

Albert Morales, general manager of Belvo in Brazil, says “Biometric Pix is a major step forward in the evolution of digital payments in Brazil. This technology makes transactions even more secure and seamless, allowing businesses and consumers to enjoy a much smoother and more reliable payment process.”

Sift launches Identity Trust XD to draw on deep identity insights

San Francisco’s Sift, a biometric fraud prevention firm, has announced the launch of Identity Trust XD, which a release says “transforms identity insights into a cross-dimensional user story, providing crucial, embedded context so that risk teams can make more informed decisions.” It does so by leveraging Sift’s Global Data Network, which processes more than 1 trillion events annually.

“Trust is the universal currency exchanged between online businesses and consumers,” said Kris Nagel, CEO of Sift. “We’re giving fraud teams the cross-dimensional identity insights they need to deliver trusted decisions and accelerate profitable growth. Feedback from Sift customers has been overwhelmingly positive, and it’s clear that Identity Trust XD is filling a crucial market void in the fraud decisioning space.”

Identity Trust XD optimizes resources, increases revenue through accelerated consumer onboarding and transaction acceptance, and reduces fraud loss with cross-dimensional insights validated across a “vast array of industry verticals, geographies, and use cases.”

Article Topics

AuthenticID  |  biometric payments  |  biometrics  |  financial services  |  fraud prevention  |  identity verification  |  Pix  |  real-time biometrics  |  selfie biometrics  |  Sift