Best Identity Verification Software for Retail (New for 2024)

 

Need a top ID verification software solution for your business? These are some of the best solutions for retail businesses in 2024.

 

For retailers, offering online check is a must in 2024! Today’s customers expect that retail stores offer ecommerce or in-store pickup, and ecommerce continues to eat up most of the sales.

For example, in 2023, ecommerce sales accounted for 15.4% of all retail transactions.

Selling online – especially if you offer age-restricted products – requires reliable and user-friendly ID verification software. An identity verification solution integrates into your ecommerce checkout; therefore, customers can complete a purchase after they have verified their age and identity.

However, this is a relatively new category of software, which makes it difficult for businesses to shop for reliable solutions. That’s why we made this comparison guide covering the best ID verification software platforms on the market today.

Identity Verification for Retailers

Why Do Retailers Need ID Verification Software?

If you sell an age-restricted product (like alcohol or CBD), you must legally check and verify your shopper’s IDs.

But how do you verify age online? And how can you protect your online business from phony accounts and underage purchases?

ID verification software makes this possible. These tools require a website visitor to upload an ID card photo and take a live selfie.

This data is then used to determine A) if the ID card is legitimate, and B) that the individual using the information is present (selfie verification)

Online ID Verification in FTx Identity

Here you can visualize how a top ID verification software works.

In FTx Identity, you can verify an existing customer when they shop online or a shopper who’s making their first purchase on your website. An ID verification solution makes it easy:

Top ID Verification Software Solutions

If you need software that can verify customers making online purchases or when they shop in-store, these are some of the best tools you can use:

1. FTx Identity

FTx Identity is a comprehensive identity management system designed to simplify customer verification and age checks online and in-store. Our all-in-one platform offers businesses a secure and efficient way to:

  • Verify customer identities: Ensure you’re doing business with real people using AI-powered authentication tools and data extraction.
  • Check IDs or accept mobile IDs: Build an ecommerce checkout with ID verification or offer customers a chance to create a mobile ID for in-store verification.
  • Comply with regulations: Stay ahead of age-restricted product sales regulations with FTx Identity’s age verification features.
  • Enhance customer experience: FTx Identity offers a seamless verification process for a faster and more user-friendly experience.

Features

Our platform caters to businesses of all sizes. Some of the most useful features include:

  • Age Verification: Legally check the age of online shoppers or allow in-store shoppers to use mobile verification.
  • AI-powered Verification: Leverage advanced AI technology for faster and more reliable identity authentication.
  • Biometric Authentication: Offer an extra layer of security with fingerprint or facial recognition options.
  • Seamless Integration: Integrate FTx Identity with your POS system or existing web application.

Pricing. FTx Identity offers various pricing plans to suit different business needs. Our plans start with a one-time customer registration fee of $3.00, and then once verified, it’s just 25 cents per verification or 75 cents for non-verified customers.

Is It Right for You?

FTx Identity is the best ID verification software for retailers who sell age-restricted products online like alcohol, CBD,tobacco or vape. The platform can also integrates with your in-store ID checks, allowing customers to create a mobile ID card for use in store.

2. Ondato

Ondato is a secure and efficient identity verification service for businesses. It helps businesses streamline their customer onboarding process by verifying the identities of their users.

Features

  • Multiple verification methods: Ondato offers a variety of verification methods, including facial recognition, document verification, and biometric verification.
  • Fast verification times: Ondato can verify identities in a matter of minutes, which can help businesses onboard customers more quickly.
  • Compliance: Ondato helps businesses comply with Know Your Customer and Anti-Money Laundering regulations.

Pricing. Ondato offers a variety of pricing plans to suit the needs of different businesses. Plans start at about $1.00 per verification, with a monthly license fee required for some plans.

Is It Right for You?

Ondato is a good option for businesses of all sizes that operate in regulated industries, such as financial services.

3. ID.me

ID.me is a digital identity network that allows individuals to securely prove and share their identity online. It acts like a digital driver’s license, streamlining access to various services. However, businesses must accept ID.me data for their verification process.

Features

  • Secure verification: ID.me uses a multi-factor verification process to confirm your identity. This includes document verification, selfies, and sometimes even video chats.
  • Universal login: Once verified, you can use ID.me to log in to various websites and apps that participate in the network.
  • Discounts and benefits: Many companies offer exclusive discounts and benefits to ID.me users.
  • Control your data: ID.me gives you control over what information you share with websites and apps.

Pricing. ID.me is completely free to use for individuals. However, businesses that want to accept verifications through the platform must pay a fee.

Is It Right for You?

ID.me is a great option for anyone who wants a secure and convenient way to prove their identity online. It’s particularly beneficial for those who frequently access government services or those who want to take advantage of exclusive ID.me member deals.

4. Jumio

Jumio is a provider of identity verification solutions for businesses. It helps businesses onboard customers quickly and securely by verifying their identities through a combination of advanced technologies.

Features

  • AI-powered document verification: Jumio uses AI to verify the authenticity of government-issued IDs like passports and driver’s licenses.
  • Biometric facial recognition: Jumio ensures the person holding the ID matches the photo through facial recognition technology.
  • Liveness detection: Jumio combats fraudulent use of photos and videos by verifying the user’s physical presence during the verification process.
  • KYC/AML compliance: Jumio helps businesses comply with Know Your Customer and Anti-Money Laundering regulations.

Pricing. Jumio does not publicly disclose their pricing plans. They offer various tiers with features and costs tailored to business needs.

Is It Right for You?

Jumio is particularly well-suited for businesses in highly regulated industries like finance and healthcare, or those processing high-value transactions.

5. Veriff

Veriff utilizes a combination of artificial intelligence and human expertise to offer a secure and efficient identity verification solution for businesses worldwide.

Features

  • AI-powered Automation: Veriff’s AI engine analyzes submitted documents and compares them against a vast database to detect forgeries and manipulations.
  • Liveness and Facial Recognition: Veriff goes beyond document verification by employing liveness detection to ensure a real person is present and facial recognition to confirm the user matches the ID photo.
  • Human-in-the-Loop Option: For enhanced security or specific compliance needs, Veriff offers a hybrid approach that integrates human review alongside AI analysis.
  • Global Reach: Veriff supports over 230 countries and territories and offers its platform in 45 languages for a smooth user experience across borders.

Pricing. Veriff offers a variety of pricing plans to cater to different business needs.

Is It Right for You?

Veriff is a valuable solution for online businesses of all sizes, particularly those operating in sectors with high security requirements like finance, fintech, crypto, gaming, and mobility industries.

How to Choose the Best ID Verification Software

Top Considerations When Choosing the Best ID Verification Software

As you shop for an ID verification software for your retail checkouts, there are a wide range of features to consider. The most important are:

1. Accuracy and Reliability

The cornerstone of any effective ID verification system is its accuracy. Imagine the chaos if a fraudulent user slipped through the cracks, potentially jeopardizing your business’s security and reputation.

The good news? FTx Identity’s liveness detection tool has a 99% accuracy rate, which is essential for preventing underage sales.

Check for accuracy rates across the entire platform, including document verification, facial recognition, and liveness detection. False positives (incorrectly rejecting legitimate users) and false negatives (approving fraudulent attempts) should be minimal.

2. Compliance with Regulations

KYC and AML regulations are constantly evolving, making compliance a critical aspect.

Ensure your chosen ID verification solution meets the specific KYC/AML requirements for your industry and target markets. Look for a provider that offers regular updates and stays up with changing regulations.

3. User Experience and Ease of Integration

A frictionless ecommerce checkout is vital for customer acquisition and retention. Therefore, the ID verification software you choose shouldn’t be a pain for shoppers.

Choose a solution that offers:

  • A user-friendly interface
  • Mobile-optimized for on-the-go convenience
  • Allows users to easily remedy verification issues

Smooth integration with your existing systems is also key. An ID verification API can minimize development time and ensure a streamlined onboarding experience for your users.

Additionally, look for a solution that integrates with your POS system. This will allow you to serve customers in-store or online.

4. Customization and Scalability

Business needs can change rapidly. Top ID verification solutions should be adaptable to your evolving requirements.

Look for a platform that allows customization of verification steps based on your risk tolerance and industry regulations. Scalability is also crucial. Does the solution have the capacity to handle increased user volumes as your business grows?

5. Cost-Effectiveness

Cost is naturally a significant factor. While advanced features often come at a premium, the chosen solution should offer value for money.

Consider a cost structure that aligns with your business model. Some providers offer pay-as-you-go options, while others have fixed monthly fees. Carefully evaluate the features and functionalities offered by each solution to ensure you’re getting the most out of your investment.

Wrapping Up

Shopping for the best ID verification software for your business isn’t easy. First, choose a solution with in-depth experience in your industry. A platform that primarily focuses on finance, for example, isn’t going to be great for an online liquor store.

Then, look at the user experience. Is it easy for customers to verify? What happens if a customer can’t be verified in the app? And how often do false positives happen?

A solution that is industry-specific and offers a great customer experience is always the best software to choose.

 

Learn more about FTx Identity. Contact our team today for a demo or a cost estimate for your project.

 

Tags:
  • ID Verification Software
  • Identity verification software
  • Online ID Verification

FAQs

Many businesses benefit! Financial institutions, healthcare providers, and those dealing with age-restricted goods online all use it for security and compliance. If you have an ecommerce business, you should consider ID verification software.

Reputable solutions use advanced methods like document verification, facial recognition, and liveness detection to minimize fraud risk. Additionally, to protect customer data, they use advanced encryption.

Costs vary depending on features and usage. Some offer pay-per-use models, while others have monthly fees. Typically, if you’re doing ecommerce verifications, you’ll pay a per-customer price per verification. This will help you estimate costs.

Many solutions provide APIs for smooth integration with your existing user management or onboarding systems. Additionally, you can integrate with your POS to offer online shoppers a simple way to check ID in store.

They can help you comply with KYC and AML regulations, but specific requirements vary by region and industry. Generally, the most important regulation would be complying with age restrictions for certain products.