Palawan Group Partners with IDfy for Enhanced Security
Palawan Group Partners with IDfy for Enhanced Security
Manila, Philippines, The Palawan Group of Companies has taken a significant step towards enhancing security for its users by partnering with IDfy, a trusted identity verification platform. This collaboration aims to prevent fraud and build trust among users of PalawanPay, the leading e-wallet app.
Strengthening Security Measures
Since its launch in April 2022, PalawanPay has experienced rapid growth, necessitating continuous improvements in service efficiency, speed, and security. To cater to its expanding user base, the Palawan Group is committed to making its services more secure. The recent partnership with IDfy, a Mumbai-based integrated identity platform, is a testament to this commitment.
About IDfy
IDfy has an impressive track record of serving 1,500 clients across various sectors, including e-commerce, gaming, and conglomerates in India, Southeast Asia, and the Middle East. The platform helps financial institutions prevent fraudulent activity and ensures that digital transactions are performed by legitimate users. IDfy adheres to stringent standards of ISO 27001 and SOC 2 Type 2 compliance, guaranteeing that user data and personal information are safeguarded with rigor and certainty.
Ensuring Trust and Safety
According to Third Librea, PalawanPay’s CEO, the partnership with IDfy provides access to “tried and tested eKYC technologies” already used by major banks in the Philippines. KYC, or “Know Your Customer,” involves careful steps to protect financial institutions and their customers against fraud, corruption, money laundering, and other illegal activities.
“Our users can expect a seamless and fast identity verification experience necessary to avail of services in the PalawanPay electronic wallet,” said Third Librea. “IDfy’s solution will drastically reduce the time needed to approve verified users, ease the burden on our operations team, and help prevent bad actors from creating accounts in the app.”
A Reliable Partner
IDfy performs more than 60 million verifications every month and has been a reliable partner for over 1,300 companies in their digital transformation. Some of their global clients include Amazon, Unilever, American Express, Walmart, PayPal, Global Payments, and Foodpanda.
JC Medina, Head of Innovation at PalawanPay, expressed excitement about the partnership after months of study. “We always look after the safety and security of our sukis’ money because we’re talking about their hard-earned money here,” said JC Medina. “We know that some people are still not confident about online transactions and e-wallets. We hope that through this partnership, people will see that keeping money in their digital wallets and doing business online can be safe and secure.”
Benefits for PalawanPay Users
With IDfy making the app secure and fraud-free at all times, it’s a win-win situation for new and existing PalawanPay users. To further enhance their experience, users need to have their accounts verified. A verified profile allows a PalawanPay suki to enjoy a higher wallet limit of up to Php250,000 and unlock more digital services within the app, such as full access to PalawanPay services like Cash Out, Send Money, and more.
Download and Verify
Download the PalawanPay App now and become a verified user to enjoy an increased monthly transaction limit of up to Php250,000, seamless and instant fund transfers to other banks and e-wallets, and no account expiration.
