Sumsub’s Reusable KYC Gateway lets MiniPay users verify their identity once and reuse it across regulated partners.
Sumsub has launched Reusable KYC Gateway, allowing MiniPay users to verify their identity once and reuse the verification across regulated partners within its network.
Unveiled at TOKEN2049 Singapore, the product is designed to reduce repeated identity checks for MiniPay, which has more than 20 million wallets in different countries.
Powered by Sumsub’s Reusable KYC technology, the Gateway lets users either draw on one of 15 million existing Sumsub IDs or complete a new identity check using an identity document and selfie. Users then consent to link their verified identity to their MiniPay account and decide what information is shared and with whom.
MiniPay does not collect, store or handle users’ sensitive identity documents or biometric data through the process, as the verified identity is transferred directly from Sumsub to the partner.
“Repeated KYC checks across the same ecosystem are inconvenient for everyone, and one in three applicants we see have already verified with us before,” said Andrew Novoselsky, Chief Product Officer at Sumsub. “Reusable KYC Gateway puts that reuse to work for MiniPay’s users, giving them a single verified identity that works throughout its entire partner network, with full control over what they share and with whom.”
“Self-custody has always been central to MiniPay. Users hold their own funds, and now they also control their own verified identity,“ said Murray Spark, Senior Director of Business Development at Opera.
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