Identity Verification Service for Marketplaces
Verification tailored
to marketplaces
Easily onboard new sellers and merchants worldwide. Verify identity in under a minute, perform business verification automatically, and screen transactions on the go—in one tab.
30 secs
average identity verification time
240%
average ROI for Sumsub clients
50k+
fraud attempts prevented monthly
Get all the verification checks
your marketplace needs
Merchant onboarding
Save both time and costs by delegating the complex business verification process to Sumsub. Our experts screen merchants more efficiently than any in-house solution, checking legal entities incorporated in any country, including China, in full compliance with all regulations.
Identity verification
Verify individual sellers and customers in under a minute while preventing even the most advanced forms of fraud.
Transaction monitoring
Automatically screen transactions to prevent chargeback fraud, gift card fraud, and money laundering. Customize screening rules according to your risk policy and other requirements, code-free.
Easily integrate your tech stack with Sumsub
Use Sumsub to integrate the services you need via Web SDK, Mobile SDK, or our RESTful API. Alternatively, you can use Unilink to onboard users via a QR code or a link to the verification form without integrating Sumsub at all. Don’t worry about interruptions with 99.996% uptime.
Don’t take our word for it. Here’s what our clients have to say
Teacher Success Manager at Italki
As an online marketplace, security and safety for our users are critical issues. We needed KYC software that we could trust. Partnering with Sumsub supported our platform’s growth by allowing us to onboard many more users safely and securely.
COO at JobToday
Sumsub’s solution helped us handle paperwork and simplify the end-user onboarding and compliance officer routine. Verifying each applicant now takes around 30 seconds instead of 10 minutes. Document processing time was reduced in half with a successful profile completion 99.5% of the time.
Money Laundering Reporting Officer at CoinPayment
Sumsub is a powerful tool for our regulatory and compliance teams. We appreciate the straightforward interface and clear guidelines on the right documents needed to ensure our clients and merchants meet all regulatory requirements. At the same time, Sumsub’s customer service team has been outstanding.
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FAQ
How can identity verification prevent money laundering in e-commerce?
Accurate verification of merchant identities can mitigate risks of money laundering and fraud completely. Due to the complexity of the process, a range of checks must be done. That includes verification of user identity, business profiles, and ongoing transaction monitoring. You can learn more about the prevention of money laundering in the ecommerce industry in Sumsub’s latest guide to AML in ecommerce.
What is merchant verification?
Merchant verification is the process of verifying the identity and legitimacy of a merchant before they are allowed to begin accepting payments from customers on a marketplace platform. This process involves verifying the merchant's personal and business information, such as their legal name, business name, address, tax ID number, and banking information. Verification is a crucial part of the merchant onboarding process, as it helps prevent fraud and protect both the payment processor and the customers.
How to onboard a new merchant
Merchant onboarding requires a secure and reliable process to verify the identity and legitimacy of the merchant. The process usually involves collecting personal and business information, such as legal name, business name, address, tax ID number, and banking information. An e-commerce KYC platform is commonly used to conduct various checks to ensure that the merchant meets the requirements to do business on the platform.
How to onboard a seller at a marketplace
When it comes to seller onboarding at a marketplace, the first step is to have the seller register an account on the platform. This may involve providing personal and business information, such as legal name, address, tax ID number, and banking information. During the seller onboarding process, the marketplace platform may also verify the seller's identity and conduct background checks to ensure that they are a legitimate business. Once the seller onboarding process is complete, the seller will typically be able to list their products on the marketplace and begin accepting orders from customers.
What is merchant risk management?
Merchant risk management is the process of identifying and mitigating potential risks associated with new merchants. A crucial aspect of merchant risk management is merchant verification service, which involves collecting and verifying personal and business information to ensure that the merchant is legitimate and authorized to accept payments. Merchant verification typically involves running background checks, verifying banking information, and conducting other forms of due diligence.
What is merchant KYC?
Merchant KYC (Know Your Customer) is a process used by marketplaces to verify the identity and legitimacy of their merchants. It involves collecting personal and business information from the merchant, such as legal name, address, tax ID number, and banking information, among others. An identity verification service for marketplaces can be used to streamline this process by automating the collection and verification of information. By leveraging an identity verification service, marketplaces can create a more secure and trustworthy environment for their customers, while also speeding up the onboarding process and reducing the risk of fraud.