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How to Secure an Ecommerce Business with IDMERIT's KYC Solutions

E-commerce businesses are one of the most active industries that allow customers to shop online every day. E-commerce business success depends on the trust and seamless customer experiences on their e-commerce platform. Almost every person explores e-commerce platforms for online shopping according to their needs. As rapid e-commerce shopping is on the rise, security threats such as identity fraud, payment fraud, and account takeovers also exist. <br>https://www.idmerit.com/blog/secure-ecommerce-business-with-idmerit-kyc-solutions/

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How to Secure an Ecommerce Business with IDMERIT's KYC Solutions

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  1. BOOK A DEMO How to Secure an Ecommerce Business with IDMERIT’s KYC Solutions Posted on February 11, 2025 by Jay Raol E-commerce businesses are one of the most active industries that allow customers to shop online every day. E- commerce business success depends on the trust and seamless customer experiences on their e-commerce platform. Almost every person explores e-commerce platforms for online shopping according to their needs. As rapid e-commerce shopping is on the rise, security threats such as identity fraud, payment fraud, and account takeovers also exist. In the e-commerce industry, to deal with these types of risks, robust KYC solutions are significant and assist in recognizing genuine customers and preventing identity fraud and unauthorized access. Numerous e-commerce businesses are available in the market that are operating globally, and a few of them are as follows: Amazon is a pioneer in the e-commerce industry that deals with categories like Home & Kitchen, Beauty & Personal Care, Toy & Games, Clothing, Shoes & Jewelry, Health, Household & Baby Care, Sports & Outdoors, Arts, Crafts, & Sewing, Books and others. eBay is an American multinational e-commerce company based in San Jose, California that deals in buying & selling electronics, cars, clothes, collectibles & more.

  2. Walmart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. Etsy is a platform that targets buyers who are in search of crafted and vintage items and serves as a marketplace for independent sellers in e-commerce. Best Buy is Renowned nationwide among tech enthusiasts for mobile gadgets and other appliances; BestBuy also serves e-commerce clients alongside their outlets, including other household items. ASOS is a fashion retailer from the UK that sells apparel, beauty products, and accessories all over the world. AliExpress is a subsidiary of the Alibaba group, and it is an online shopping site that sells a wide range of inexpensive items from Chinese suppliers to international buyers. Overstock is an online retailer that sells surplus and returned furniture and home furnishings at much lower prices than standard retail. Wayfair is one of the largest e-commerce platforms for furniture and home goods. It offers a wide range of furnishings, decor, and home repair supplies. Costco is a membership-based retail store that sells large quantities of different items, such as groceries, appliances, and home supplies, at very low prices. Chewy is an e-commerce business that is known for pet supplies like food, toys, and medications, as well as customer service and subscription services. E-commerce businesses can be in various categories, and every e-commerce site is known globally for its business categories in the e-commerce industry. How KYC Solutions Helps Secure E-commerce Businesses? Quick Identity Verification: IDMERIT’s KYC API is the best-in-class KYC solution that can provide quick and easy personal identity verification and seamless fraud detection. Utilizing an API (REST), it can access over 440+ official data sources across 180+ countries to provide digital Know Your Customer (KYC) solutions. KYC Solutions help to verify the identity of the customer quickly and securely for the e-commerce industry and delivers accurate results within seconds. Enhance Customer Trust: When customers learn about an e-commerce platform, they use an AI-driven identity verification solution to authenticate their identity before making any purchases. It assures customers of secure purchasing on the e- commerce platform and enhances customer trust in secure payment transactions. KYC solutions assists in building trust and maintaining the fraud-proof brand reputation of e-commerce companies in the digital world. Protect Minors: Underage customers try to purchase from e-commerce sites, and KYC solution ensures it, whether it is a minor or an adult, according to their age. Some e-commerce sites don’t allow you to purchase anything according to age- restricted regulations that deal with age-restricted products. Protecting minors is everyone’s responsibility, and IDMERIT also helps to protect minors and prevent financial crimes. Reduce Account Takeovers: Cybercriminals who are involved in fraud activities often use phishing techniques to steal login credentials of e- commerce platforms. However, digital KYC ensures that only genuine account owners can access their profiles and prevent unauthorized access. It also provides video KYC solutions to achieve austerity in real-time. It reduces the chances of account takeover and helps ensure a safe online shopping experience.

  3. Prevent Fraudulent Transactions: KYC API ensures genuine identities before buyer-buyer transactions on the e-commerce site and prevents fraudulent transactions using stolen credit card details. It gives a red alert for fraudulent identity and helps in fraud prevention for e-commerce businesses. Ensure Compliance: KYC API ensures regulatory compliance with GDPR and CCPA regulations. IDMERIT’s digital KYC API ensures regulatory compliance and authenticates identities according to regulatory standards. KYC solutions ensures e- commerce businesses do not face legal risks and regulatory penalties. Quick Onboarding: An advanced digital KYC solution based on AI and machine learning algorithms authenticates customer identity within seconds and ensures a quick onboarding process for e-commerce sites. As people rapidly use e-commerce sites for online shopping, e-commerce platforms must have an advanced identity verification solution that builds a robust security system, prevents unauthorized access, and provides an effortless online shopping experience. Digital KYC assists E-commerce stores in verifying identity quickly and provides a smooth user experience during the onboarding process. It assists in safeguarding minors and securing an e-commerce payment system. Digital KYC API allows seamless customer identity verification for e-commerce businesses, complies with regulations, and prevents fraud. Effective digital KYC solutions build customer trust, mitigate risks, and smooth the operation process for your e-commerce businesses. IDMERIT helps in securing business transactions and provides a safe online shopping experience for everyone. Along with KYC solutions, IDMERIT provides comprehensive identity verification solutions that can also be utilized to meet e-commerce business requirements. Digital KYC keeps e-commerce businesses ahead of the curve in the competitive market and prevents advanced financial threats.

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