Checkout.com announces acquisition of ubble to improve trust and security in the digital economy

The global payment specialist has announced the acquisition of the French startup specializing in identity verification, and continues to enhance the reliability and security of the digital economy in the context of sustainable growth.

ParisAnd 12 May 2022 /PRNewswire/ – As a global provider of cloud-based payments solutions expands its financial service offerings, Checkout.com Announces Intent To Get Started Online Identity Verification (IDV – IDentity Verification) ubble.

The deal – which is expected to close later this year subject to regulatory approval – comes amid continued global growth in online transaction volumes, accompanied by a simultaneous increase in fraud and money laundering risks. This acquisition is also in line with Checkout.com’s mission, which aims to make the digital economy an enabling environment for the development of businesses and their ecosystems.

The acquisition of ubble.com will allow Checkout.com to expand the range of its financial products, which fintech companies and e-commerce players use to accept and order payment transactions with their customers, while managing the associated financial risks.

Adding online identity verification will support another important aspect of the payment journey: ensuring sellers and financial companies comply with local regulations, verifying that their customers are who they say they are, and anticipating potential developments in the complex legal environment in the EU and around the world.

It was co-founded in 2018 by François Weiss (CEO), Juliette Delano (CRO) and Nicholas Debernardi (CTO), ubble is the leader in the use of real-time video identity verification technologies. The company now has nearly 100 employees in its offices in France. The company’s flagship solution automatically verifies the identity of the user, based on more than 2,000 types of documents, from 214 countries and regions, using the best machine learning processes.

ubble was created to meet the need to use digital data on the personal identity of users in a simple and secure way. This is clearly a growing need among our customers, including e-commerce and cryptocurrency operators, digital wallet managers, as well as fintech companies. “,” Explained Myron Colbichy, Chief Product Officer at Checkout.com.

We were impressed by the ubble team’s ability to drive machine learning and innovation quickly in a complex and challenging field, as well as their engineering skills. Through close collaboration, we can help significantly expand our already ambitious roadmap while bringing their cutting edge technology into our thriving ecosystem of partners. »

Over the past four years, our team has worked to build the foundations of technology that builds trust between online services and their users. This technology also respects and protects the confidentiality of identity data at all levels “,” Francois Weiss, CEO of ubble . added. ” Grâce à cette annonce, nous allons accélérer le rythme de développement de nos technologies d’IDV, contribuer à l’évolution des briques technologies derrière les systèmes de paiement de Checkout.com, et amplifier la portée atagesr et les ès from the whole world. »

So far, ubble — which has been privately funded by Partech, Breega, Kima Ventures and other business angels — has already attracted several French fintech companies, carpooling and delivery apps, as well as major banking networks and traditional financial institutions. Its success is due to a relentless approach to security and compliance, and the development of its own technology.

The potential use cases remain quite large, especially due to the predominant role that IDV technology plays in the markets, the creation or trading of cryptocurrencies, for example.

We always put the needs of merchants first “,” Myron Kolbichi added.By expanding our security and fraud detection capabilities, we can reduce the time, cost, and pain these merchants face with existing IDV solutions. They can provide consumers with a simple, reliable experience that leads to higher conversion rates and faster growth. »

For more information, please visit www.checkout.com.

about ubble

It was created in 2018 by François Weiss, Juliette Delanoe and Nicholas Debernardiubble is a European service for remote identity verification. Its mission is to build trust between online services and their users, to allow everyone to use their civic identity in the digital world in a simple and secure way. ubble facilitates remote connectivity, protects businesses and users from identity fraud, and improves customer journey performance. Its proprietary real-time video recognition technology, based on identity expertise and artificial intelligence, is industrial and proven.

ubble supports private companies (Treezor, Crédit Agricole, Uber Eats), start-ups (United Credit, Yousign, Stuart) and public actors (BPifrance, Government of New Caledonia, Ministry of Culture).

The startup was awarded the “Coup de coeur du jury” award from the recent International Forum on Cybersecurity 2021 (FIC).

About Checkout.com

Checkout.com is a global payment solutions provider that helps businesses and their ecosystems thrive in the digital economy. Checkout.com’s modular payments platform provides a powerful, scalable, and fast solution for businesses looking for better payment solutions to integrate seamlessly. With more than 1,900 people in 19 offices around the world, Checkout.com offers innovative solutions that adapt to its customers’ needs, as well as expert advice that helps them better improve their payment performance. Checkout.com also offers trusted expertise to master the intricacies of an ever-changing world. That’s why companies like Crypto.com, Veepee, Getty Images, Grab, SHEIN, Sony, Binance and Wise trust Checkout.com.

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