PayGate selects GBG for global identity verification checks
GBG, the global specialist in identity data intelligence announces it has partnered with PayGate, Korea’s leading international payment gateway, to integrate its global identity verification solution into PayGate’s web-based platform. The solution, GBG ID3global, will enable PayGate to on-board international customers faster and with greater security and at the same time fully ensure compliance regulations are met.
Headquartered in Seoul, PayGate’s simple and secure customer-focused payment service provides local and international clients with inexpensive, fast and reliable options for cross border money transfer. As the business continues to grow in the local and global markets, PayGate’s commitment to delivering a world class customer experience remains a core business objective. PayGate is confident GBG ID3global will improve their customer on-boarding process significantly and Mr. Mountie Lee, Co-Founder and Chief Technology Officer, estimates the GBG solution will contribute savings of 30 to 40 per cent in the first year alone.
GBG ID3global is an electronic identity verification solution. It has the power to check your customers’ identity information to quickly confirm that they are who they say they are and that they are appropriate to do business with. The solution has the ability to call on reference data for more than 4 billion people across 250 countries and territories and lists of politically exposed persons (PEP) and sanctioned individuals. The process is entirely automated which improves application turn-around time and provides greater accuracy and consistency when compared with manual checks.
PayGate is committed to maintaining its position as a leader in the international e-payment industry and is confident that its reputation for providing the best, most innovative payments solution will allow the business to excel in all e-payment categories in the Korean market.
PayGate CEO So Young Park stated: "GBG provide very unique and worldwide level services for the money remittance industry which makes it the clear choice for PayGate. With this partnership, PayGate intends to on-board as many fin-tech businesses around the world as possible."
Ryan Morrison, Commercial Director at GBG, said: “We are honoured by PayGate’s decision to use GBG ID3global to support their growth both internationally and in the local Korean market. GBG helps companies across Asia and the rest of the world to use identity intelligently so they can do business safely and efficiently. As the non-cash market in Korea continues to expand, e-payments will grow. We are pleased that our scalable solution for identity verification will support PayGate’s success in this industry.”