BitInstant is taking steps to improve its ability to confirm customer identities, according to a new company press release. The New York-based company says it is partnering with online mobile payments specialist Jumio by incorporating Netverify’s software into its online transfer process.
This will allow BitInstant to determine if a customer’s offline identity is the same as the one he or she claims online simply by having the user scan their passport, driver’s license or government ID.
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“By enabling customers to easily scan and validate their ID with their mobile phone or webcam, we take the friction out of the authentication process while protecting against fraudulent activity, BitInstant CEO Charlie Shrem said in a release.
Read the full report here.
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