Russian Payments Firm Trials Bitcoin Tool for Customer Verification
A bitcoin blockchain notarization project has developed a customer on-boarding tool for a Russian payments service.
A Russian payments service is testing a notarization tool based on the bitcoin blockchain as a way to assist in its customer onboarding.
According to the post, the tool would replace an existing process for verifying Pay-Me.ru customers, who are now required to sit for in-person interviews before being shipped the firm's point-of-sale product.
Instead, customers can take part in a video interview by way of a mobile app. A timestamp record of the data collected is then placed on the bitcoin blockchain.
BlockNotary founder Igor Brainov, who demoed the tool earlier this week at an event hosted by startup accelerator Plug 'n Play, told CoinDesk work on the tool began in November.
Pay-Me.ru CEO Vladimir Kanin said that the company is looking to deploy the tool for validating new customers.
"This kind of digital know-your-customer (KYC) procedure must improve quality of compliance and prevent potential risks," he said, adding:
Correction: This article has been updated to remove an incorrect spelling of Pay-Me.ru.
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