Payment and identity verification with blockchain & biometrics
How does your business manage customer data and identification?
As one of the most secure methods of data protection available, blockchain technology has quickly become the industry standard for securely accessing customer information and ensuring it never falls into the wrong hands.
Harnessing this best-of-breed encryption technology, our partners at Nuggets have developed an innovative platform that combines blockchain with biometric authentication to deliver the first-ever identity and payment app to the Australian market.
Nuggets: Leading the way in data security
Nuggets is a secure payment security and ID verification platform designed to streamline business processes and deliver exceptional data security to customers. Using industry-leading blockchain and biometric technology, Nuggets helps businesses to protect customer data while offering simplified validation and payment processes for businesses.
Latpay + Nuggets
Latpay has teamed up with Nuggets to offer a complete solution to payment security. Utilising our PCI DSS compliant merchant facility and payment gateway, we can now offer businesses a simple and highly-secure option for ID verification and payment processing, both online and in person.
How it works:
Nuggets stores customer data securely using blockchain technology. This essentially means that the data is encrypted and dispersed in chunks to be stored across a range of sources, and is only accessible by the customer themselves. Not even Nuggets can access it.
When a business requests ID verification, customers only share enough of the data stored to complete the verification or transaction. This means that businesses never need to store personal or sensitive data about their customers.
Benefits of using Nuggets:
Developed with both businesses and consumers in mind, Nuggets delivers a wide range of benefits that ensure the security of all users while streamlining processes and improving customer experiences.
Business Benefits:
Fraud mitigation
Combining blockchain and biometric technology, Nuggets helps to mitigate the risks of identity fraud with a highly secure platform that puts data security back in the hands of the customer.
Compliance assurance
Minimise the hassles of regulatory compliance with a payment and identity verification system that boast compliance to the major governing bodies, including Payment Card Industry Data Security Standard (PCI DSS), General Data Protection Regulation (GDPR) and Second Payment Services Directive (PSD2).
Streamlined processes
Spend less time processing your customers with the ability to validate identification and verify payment methods in just seconds. Just send a request to your customer’s mobile and have complete confidence in the data provided – no second-guessing.
No data, no breaches
Recent statistics show that around $527.8 million was lost over the previous financial year to card fraud in Australia, while the annual economic impact of identity fraud sits at around $2 billion. Mitigate the risks of a data breach and protect your business reputation by never storing customer data. If there’s no data, there’s no data to be breached.
Secure payment processing
Deploying Latpay’s secure payment technology, Nuggets delivers complete payment security using whichever payment method your customers prefer.
Consumer Benefits:
Protect your personal data
With none of their personal data collected or stored by your business, customers can feel confident in the protection of their personal data and therefore more comfortable doing business with you.
Streamline identity verification
Customers can spend less time proving they are who they say they are with a pre-validated method of identification. A
Make payments simple
Using pre-loaded and pre-verified payment methods, customers can make payments in a few simple steps from their Nuggets app with the knowledge that their payment data will remain secure.
No more passwords
With the capability to sign in via fingerprint scan or facial recognition, using Nuggets removes the need for pesky passwords. As well as sidestepping yet another password to remember, this also means reduced risk of phishing, malware or hijacking of phone accounts.
Using Nuggets
Using the Nuggets platform for payment and identity verification is incredibly simple for both businesses and consumers, and can be completed in just 3 quick steps:
Step 1: Biometric single sign-on
Using either a desktop or mobile device, businesses and consumers can log in in seconds using biometric data saved to their account. This means no usernames or passwords required.
Step 2: Swift ID verification
The business then ‘pings’ a request to the customers’ device, requesting access to specific information. Once the customer receives the request, they can either approve or deny access for the business. Once approved, the verification process takes just seconds.
Step 3: Secure payments
If taking payments, the business can then offer the most popular payment methods for their customers to pay directly through the Nuggets app. This includes credit or debit cards and even cryptocurrency.
It’s that simple.
Ready to step into the future of business? Learn more about how Nuggets and Latpay can help you to reduce risk, increase revenue and streamline customer verification here.
