#Japan #Tokyo #Famipay #LIQUID eKYC

FamilyMart's Innovative Step Towards Simplified User Verification

In a groundbreaking move, FamilyMart has adopted the LIQUID eKYC, a cutting-edge online identity verification service from the Element Group’s subsidiary, Liquid, for its mobile app, Famipay. This integration aims to enhance the user verification process, especially for the popular ‘Famipay Next Month Payment’ feature, which allows users to consolidate their monthly payments into the following month’s bill.

What is LIQUID eKYC?

LIQUID eKYC stands for Electronic Know Your Customer. It's a digital identity verification service that facilitates the online identification process essential for account registrations and financial transactions. The service emphasizes user convenience while maintaining a high level of security, boasting a unique combination of AI, biometric validation, and real-time image processing. The system has been recognized for its minimal dropout rates during the verification process, a testament to its effective user interface and innovative technology.

The New Verification Process with JPKI

With the recent inclusion of public personal identification via Japan’s JPKI (Japanese Public Key Infrastructure), users can now complete their identity verification more efficiently than ever. Unlike traditional methods that require scanning identification documents such as a driver's license or My Number card, this new approach allows users to simply input a PIN and scan their My Number card using their smartphone. This simplifies the entire onboarding process and encourages greater user engagement by allowing immediate access to services like Famipay Next Month Payment upon completion of verification.

Evolution of User Identification

Prior to this update, Famipay already utilized LIQUID eKYC to verify identities through a process involving the capture of ID documents and matching them with a selfie for facial recognition. The comprehensive user interface of LIQUID eKYC ensures that any validation issues are communicated instantly to users, helping to significantly reduce the amount of unclear data submitted for verification. This is particularly important in maintaining service integrity and efficiency, demonstrating the company's commitment to enhancing user experience.

Expanding Market Presence

LIQUID eKYC has established itself as a leader in the eKYC market, consistently holding the number one market share for six consecutive years. This dominance highlights its reliability and the satisfaction of various businesses that have integrated its services. As of now, the Element Group has facilitated over 130 million identity verifications across approximately 600 contracted entities, showcasing the system’s robust scalability and adaptability across diverse sectors, including finance and retail.

Implications for Users

For users, the shift to this new verification method means significantly reduced wait times for account activation and an overall smoother experience when using Famipay. The light memory footprint of
LIQUID eKYC’s SDK, weighing just 5MB, played a crucial role in this transition, allowing for seamless integration within the Famipay app.

The Future of Digital Identity Verification

Moving forward, Liquid is dedicated to fostering a seamless and secure identification process. They aim to create a society where anyone can effortlessly use any service by harnessing their biological identity. This involves not just eKYC but encompasses a broad range of verification technologies in fields such as financial transactions, real estate, and peer-to-peer sharing.

In conclusion, FamilyMart's decision to incorporate LIQUID eKYC into its Famipay app is a significant step towards facilitating a user-friendly, secure, and efficient verification environment. As digital interactions grow, this initiative sets a precedent for how businesses can leverage technology to improve customer service and trust.