Stripe, an online and app-based payment services provider, launched “Stripe Identity,” a low-code/no-code verification tool for online businesses to prevent fraud, account takeovers, and bad actors.

Stripe Identity verifies users through machine learning by matching the user’s government ID photo with a live selfie. Moreover, businesses can also request additional information that can be checked against third-party records. 

The information submitted by the users, including photos, is encrypted and handled directly by Stripe, and therefore businesses do not need to store personal data on their own servers.    

Stripe, the highest valued venture-backed private company in the US as of May 2021, provides the infrastructure for businesses to build online and app-based payment services using application programming interfaces (APIs). It enables businesses to build payment systems that integrate disparate systems and payment functionalities without expending much in terms of development resources. As of February 2021, Stripe handled over 250 million API requests per day in more than 135 currencies across more than 35 countries. The company also reported that around 90% of US adults had purchased products from businesses using Stripe.