The growth of e-commerce is well documented – according to the U.S. Census Bureau, e-commerce represented 7.8% of total transactions in Q1 of 2016, a 15% increase on the same quarter a year ago. For merchants offering goods and services in age restricted categories such as online gaming, pharmaceuticals and alcohol, the opportunity to capitalize on this unprecedented growth is capped by the ability to verify the age of shoppers – how do you know that your customer is truly who they claim to be in an online environment? Further – how do you prove to the authorities that you are meeting the increasingly stringent authentication requirements for selling age restricted merchandise?
The solution to this is Mitek’s identity verification technology, which can make age verification a snap. This technology can be a boon to businesses specializing in age-restricted commerce and content, including:
- Online gaming
- Video games
Mitek’s Mobile Verify™ allows customers to engage in mobile self-identification. ID verification is instant via our enhanced auto-capture technology. The effect is twofold for retailers - the risk of card not present fraud is diminished, as are the risks of fines for selling age restricted goods to minors.
This mobile experience is fast and easy, allowing customers to verify their age quickly with minimal effort, minimizing the risk of cart abandonment. Mitek’s age verification solution also decreases the risk of government fines and intervention due to failure to meet regulatory requirement, thereby protecting a company’s brand and image.
For more information on how mobile age verification technology is being utilized in these industries, please see our Blog post "Mobile Age Verification Imperative to Safe Commerce of Regulated Goods".