A Russian payment company uses blockchain technology to simplify customer identity verification procedures

Tierion announced that the latest app developed by BlockNotary uses Tierion’s blockchain data collection technology to provide simple and convenient verification services for Pay-Me, a payment processor in Moscow, Russia.

Pay-Me requires customers to meet with the company's customer service representative and provide detailed identity information before purchasing a POS machine. This seems a bit troublesome. Why is it stipulated like this? Tierion said in the article: Because in Russia, criminals steal credit cards and use mobile POS terminals to launder money. Therefore, Pay-Me will require new customers to meet with a customer representative in person and pass a background check.

However, BlockNotary now provides Pay-Me with a simple and secure means of verification by leveraging Tierion’s blockchain technology, eliminating the need for new customers to visit a customer service representative in person for a background check.

BlockNotary founder Igor Brainov unveiled the new product to the public at startup accelerator Plug 'n Play earlier this week.

Tierion is very pleased that Blocknotary chose to use their technology and said that the company will also use Tierion's technology to provide verification services for other areas, such as tenant background checks, gun purchases, and insurance claims.

Pay-Me CEO弗拉基米尔•卡宁said the company is in the process of deploying the new tool.

“Such digitalized Know Your Customer (KYC) procedures are essential for better quality compliance and prevention of potential risks.”

And added:

“In the near future, we plan to expand the application to other markets such as Kazakhstan and Ukraine.”

Original article: http://www.coindesk.com/bitcoin-notary-startup-develops-tool-for-russian-payments-firm/
By Stan Higgins
Compiled by: printemps
Source (translation): Babbitt Information (http://www.8btc.com/tierion-blocknotary)