Paydentity incorporates payment authentication with enhanced due diligence (EDD) Know Your Customer (KYC) to remotely link a person’s verified identity to an electronic payment, in order to satisfy Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulatory requirements. As allowed by the UK’s 2017 JMLSG AT S.5.3.89, iSignthis creates a secret that is inserted into the account, which secret must be retrieved and confirmed by the payment services user to prove access and control of their account.
Payment Instrument Verification (PIV) Feature