BlockNotary’s new app uses Tierion to combat fraud and simplify signups for Pay-Me, a Russian mobile payments processor with over 30,000 installed devices. Currently, new Pay-Me customers must visit an office for an interview with a customer service rep. Blocknotary replaces this in-person visit with a video interview conducted via a mobile application. Tierion is used to collect the data and create a verifiable record of the entire process.
Demonstration Video (1 min)
Why is this needed?
Russian criminals steal credit cards and use mobile PoS terminals to launder money. In response, Pay-me requires new customers visit an office for an interview and pass a background check before shipping a PoS device. Blocknotary’s Video Interview application let’s customers verify their identity and conduct an interview from their location. The customer’s statement of intentions and the information needed for a background check are collected. This makes the onboarding process smoother for new customers and allows Pay-Me to ship a PoS device before a background check is complete. Additionally, Pay-me gets a tamperproof record of the entire process that can be verified using blockchain. This record can lower Pay-Me’s legal liability and be useful to police that are investigating fraudulent activity.
“Recording a video of yourself during the registration process helps prevent fraud. As CEO, I’d like to make it as difficult as possible for criminals to use Pay-Me to conduct illegal activities.” – Pay-Me CEO, Vladimir Kanin.
We’re thrilled that Blocknotary chose to build their new product using Tierion. The company is exploring other applications for this technology including tenant background checks, purchasing firearms, and insurance claims submissions. Blocknotary’s first product is an IOS application that allows you to notarize photos, documents, and videos in the blockchain.