#Japan #Tokyo #LIQUID #eKYC #Tomoarrow

Tomoarrow and Liquid Partnership

In a significant development for cross-border e-commerce, Tomoarrow, a payment service based in South Korea, has partnered with Liquid, a company headquartered in Tokyo, to incorporate public individual authentication (JPKI) into their service offerings. The synergy between these two innovative firms aims to create seamless and secure online purchase experiences for Japanese consumers who wish to shop on Korean e-commerce platforms.

Introducing Liquid's LIQUID eKYC

Liquid's LIQUID eKYC is a pioneering online identity verification solution designed to meet the growing demand for secure digital transactions. By implementing the IC Omakase Pack, users can perform individual authentication using the IC chip of Japan's My Number card (JPKI). This state-of-the-art solution allows for efficient identity verification in a user-friendly manner, significantly enhancing the overall payment experience on Tomoarrow.

Simplifying Authentication Processes

The LIQUID eKYC system is equipped to determine the optimal reading channel based on the user's device environment, effectively guiding users to the path of least resistance regarding identity verification. This automation reduces user drop-off during the authentication process, hence improving usage rates as customers engage in purchases using Tomoarrow.

The use of JPKI allows Japanese users to confirm their identities securely before making purchases, instilling confidence in cross-border transactions. This development comes at a crucial time as e-commerce continues to explode globally, particularly in the wake of increased online shopping behaviors observed during the pandemic.

Future Developments

Tomoarrow is not stopping at merely providing a payment solution for e-commerce. Future plans involve extending their services to various sectors, including public transportation, healthcare, ticketing, and mobility reservations. This broader implementation underscores their commitment to enhancing digital payment solutions across a multitude of industries, aiming to create a truly integrated payment ecosystem.

Liquid's Market Standing

With a six-year consecutive streak as the number one provider in the eKYC market according to ITR Market View, Liquid's credentials speak volumes. Their approach encompasses not only identity verification for financial transactions, including contract creation and account registration, but also supports capabilities like age verification for student discounts. Employing unique AI technology, biometric verification, and optical character recognition (OCR), Liquid has successfully lowered dropout rates through streamlined processes.

Impressive Achievements

The ELEMENTS Group, under which Liquid operates, boasts approximately 130 million completed identity verifications and a staggering 600 corporate clients. This remarkable achievement reflects their position as a trusted leader in the online identity verification landscape.

About Tomoarrow

Founded in 2024, Tomoarrow aims to create a global payment ecosystem that allows foreign customers to transact online securely and efficiently. By integrating AI OCR and EMV 3DS2 authentication into their platform, they address the verification needs of a diverse and international clientele.

Their holistic risk detection system also enhances security in various sectors such as finance, e-commerce, and C-to-C markets, ensuring that users can shop and pay online with peace of mind. Given the increasing prevalence of digital commerce and cross-sector partnerships, Tomoarrow is poised for significant growth.

Liquid's Vision

Liquid envisions a world where biometric technology facilitates easy access to services for all individuals, breaking barriers to participation in various online activities. Their unwavering focus on security and convenience aligns perfectly with contemporary consumer needs. From identity verification in financial transactions to preventing misuse in mobile contracts, Liquid continues to innovate and improve upon existing systems.

As the digital landscape evolves, both Tomoarrow and Liquid are at the forefront of creating better, safer online payment solutions that cater to a global audience, signaling an exciting era for international e-commerce.