Consumer interactions are evolving. With each passing year, innovations in convenience, security and cost-effectiveness revolve around transactions conducted online. But as the benefits of online transactions multiply, so do the risks taken by both business and consumer. Hackers, scammers and identity thieves develop new ways to exploit both parties just as quickly as they adapt to protect themselves from attack. It is critical in today’s market for those participating in online business to take action to protect themselves, their consumers and their investments with solid 먹튀검증업체 and authentication tools.

When searching for the proper system to protect your interests, the difference between these two components can become obscured, especially in terms of government regulation compliance. In fact, the recent delay of the Federal Trade Commission’s (FTC) Red Flags Rule implementation date from August 1 to November 1 was a direct result of confusion over for whom, and to what capacity, compliance procedures should be implemented. It’s important for all business owners to understand and agree to the level of identity protection that is suitable for their needs.

In this article, we will explore the difference between verification and authentication, and how both are critical to your business’s overall success.

What Is Identity Verification?

If you have ever been asked to display a driver’s licence, enter a Social Security number, or present other qualifying personal information before a transaction could proceed, you have experienced identity verification. In other words, identity verification is simply asking a consumer to present a form of identification out of his or her wallet to prove who they are.