AstroPay, a payment solution used by millions of consumers that purchase online on international sites, introduces “Sign In with AstroPay”, the new feature that solves onboarding and KYC complexities.
Being aware of the challenges that internet businesses face to onboard their customers, AstroPay developed this API to help operators obtain reliable information from their users from a simple click. Asking the user to fill out information on endless sign-up forms often leads to a lot of false or useless information and in some cases to losing the user. Moreover, when this data has to be verified to comply with KYC regulations and risk profiles the procedures become more complicated.
“Sign In with AstroPay is a new feature that aims to solve the problem from the root, taking the burden of onboarding and KYC off the merchants’ shoulders”, explains Mikael Lijtenstein, AstroPay CEO. “Instead of putting the user through a long onboarding process, merchants will present the Sign In with AstroPay button which will resume the process to a simple tap”, he added.
This feature allows the merchant to get all the necessary information, eliminating the need to make its own KYC. Hence, forms, additional data, complex identity, or source of funds verification will not be required as AstroPay will handle them.
From the user experience perspective, the flow is completely analogous to those of sign in with Google or Facebook which makes it easy for the consumer, as well as improves the conversion rate.
The company has extensive experience in managing the specificities of emerging markets, offering an efficient solution to more than two million users and 500 merchants all over the world.