Liquid Introduces Seamless Online Identity Verification for MachiPay

Liquid Partners with MachiPay for Enhanced Online Verification

The Liquid Group, headquartered in Chuo-ku, Tokyo, has officially announced a partnership with MachiPay, a cashless payment service based out of Matsuyama, Ehime. This collaboration is set to introduce Liquid's cutting-edge online identity verification service, LIQUID eKYC, into the MachiPay app. This integration will not only enhance user experience but also significantly expedite the identity verification process for registering credit cards and bank accounts.

Instant Approval through Advanced Technology

Traditionally, the identity verification process took up to a week to complete. However, with the introduction of LIQUID eKYC, instant approval is now possible. This advancement employs a public personal authentication method, allowing users to complete their identity verification online without unnecessary delays. This is particularly beneficial during peak periods when the back office traditionally handled this process, sometimes requiring over 8 hours a day. Now, it can be achieved in under one hour, effectively streamlining operations and reducing workload.

Simplifying the Verification Flow

To further enhance the user experience, the verification process has also been simplified. Previously, it required capturing up to five photographs for a single verification flow. With face recognition technology and a one-time document reading approach, the process is now more straightforward and user-friendly. This not only makes the procedure less cumbersome for users but also mitigates potential fraud by reducing opportunities for identity theft.

About MachiPay

MachiPay is a cashless payment service that allows users to make purchases at local stores using in-app money and points. The service incentivizes users through point rebates, which can also be utilized during local events. Users have the option to perform online money charges via credit cards or bank accounts within the app, making it a versatile tool for financial transactions in the community.

LIQUID eKYC: A Leader in Online Verification

Liquid's LIQUID eKYC service has dominated the eKYC market for six consecutive years. This vital service simplifies identity verification for online contracts, account registrations, and new bank account openings. The LIQUID eKYC process involves taking images of government-issued identification documents, such as driver's licenses or My Number cards, and utilizing advanced facial recognition technology to match them with a live selfie. Liquid's proprietary AI technology enhances this process, greatly lowering dropout rates during verification and contributing to approximately 150 million completed verifications to date, serving around 600 corporate clients.

Understanding Liquid

Liquid aims to create a seamless world where everyone, regardless of circumstances, can easily and securely access various services using biometric authentication. The company’s efforts align with a broader trend of digital identity verification across various sectors, including financial transactions, mobile contracts, and real estate dealings. By implementing cross-industry fraud detection mechanisms, Liquid strives to enhance both accessibility and security for users.

About ELEMENTS Group

Located in Chuo-ku, Tokyo, ELEMENTS Inc. focuses on developing biometric authentication and image analysis solutions, combining machine learning with personal identification. Founded in December 2013, ELEMENTS has expanded operations to include cloud services that manage personal data, committing to creating optimized solutions for personal needs.

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Liquid and MachiPay’s innovative partnership is set to revolutionize how individuals verify their identities in the digital age, offering both security and simplicity in a fast-paced financial environment.