Device fingerprinting solutionsUnfortunately, only a few business owners realize the significance of age verification software and how it can positively affect their business’s growth. For example, banks and loan companies often land in hot water because of online scams. Money laundering and fake transactions have become common of late, and they are usually subject to age verification.
This is why, in the last few years, as the number of fake online users has grown exponentially, regulatory authorities have been coming up with bullet-proof identity verification software. The aim is not only to minimize scams but also to keep a check on the users who join their platforms.
As everything has gone mobile, businesses are keener than ever to equip themselves with robust mobile age verification tools.
But how does mobile age verification for business work? More importantly, why does your business need mobile age verification? We are answering these and so many more questions below.
What is Age Verification Software?
Age verification software or an identity verification solution is an outlet for business owners to check the age of their incoming customers. This is usually part of the “Know Your Customers” process and is necessary to determine the visitors’ demographics.
An age verification system is available in different formats. You can either sign up for a full-blown identity verification system featuring APIs that will let you integrate the software with other available commercial systems. Or you can choose it as a dedicated identity verification tool that only does what it is programmed to do while stacking with other available software. Many Device fingerprinting solutions in market helps to get best solution.
Another way to verify age when someone enters a music festival or a casino is via age-verification mobile applications. These apps allow the mainstream server to verify the age of incoming customers in the field and ensure nobody barges in without verifying their identity.
There are several applications available for an optimal identity verification solution. Some systems incorporate visuals, such as video calls or images, to verify the user’s age with live agents. While other software checks online databases such as credit card and government references to determine if the user has reached the age limit needed to enter the webpage.
Which Companies Use Age Verification Systems?
Several companies must ensure their products and offerings are kept out of the reach of underage people. This can include age-restricted websites, apps, products, and services.
Business owners must ensure these safety precautions not only to keep underage visitors safe from inappropriate content but also to keep their licenses. Some businesses that need an age verification system include
- Money transfer services
- Banks
- Fintech firms
- Loan companies
- Betting sites and online casinos
- Age-restricted sellers
- Dating services
Moreover, most social media platforms are also incorporating identity validation solutions on their websites to keep underage users off social media sites.
However, in June 2022, Instagram rolled out a new age verification policy that prohibited the platforms from collecting data on underage kids without their parents’ permission. Age verification software has become inevitable for social media platforms to comply with federal regulations.
Why Does Your Business Need Age Verification Software?
As mentioned earlier, various stores must install an age verification system on their websites. These businesses can be anything from legal firms to online casinos and dating platforms. E-commerce professionals are also contemplating investing in identity verification solutions, which is excellent.
Some significant reasons businesses need to invest in age verification solutions are listed below,
1. Compliance with Regulatory Authorities
Compliance with regulatory authorities is the most significant reason why business owners must look for identity verification companies and get an age verification solution. Federal authorities in first-world countries such as the UK, USA, and Europe have made it essential for business owners to integrate the age-verification system on their websites.
In cases of non-compliance, the federal authorities are liable to file massive lawsuits against companies. Moreover, complying with the authorities gives businesses a better credit rating while enhancing their market value.
2. Filter Eligible Visitors
Integrating age verification software on your business website will help you filter out incoming visitors. If an underage child has landed in your store, the age verification software will tell them that the website doesn’t cater to their needs or what they might be looking for, forcing the underage kid to leave.
This way, you can narrow down your site so that your target audience can access it without boosting your bounce rate.
3. Corporate Social Responsibility
Every business owner is responsible for their society. Fulfilling these corporate social responsibilities won’t let them reap any monetary gains but will improve their brand image among the masses.
For instance, if an online seller is doing business with age-restricted products such as marijuana or alcohol, by integrating age-verification software on their website, they ensure their duty towards the masses. It shows that their business does not harm the most vulnerable members of society.
This will help the business gain recognition as a compliant store that sells age-restricted products responsibly.
4. Reduce Chances of Scam
Online scams have grown exponentially in the last few years. Many hackers use other people’s credit cards to shop online or hack into their bank accounts.
Similarly, many underage kids use their parents’ credit cards and identity information to shop online, which runs a massive risk to the business’s credibility. With the help of age verification software, all of these scams can be minimized since these systems verify the age and identity of the customer on the spot.
So, if there is a hacker or child on the other end of the screen, they are less likely to get away with it.
Final Thoughts
Age verification software is inevitable for any growing business that offers age-restricted products or has an e-commerce platform. With the help of this verification system, you will be able to ensure the credibility of your business by keeping scams and unauthorized transactions at bay.
There are currently several identity verification companies operating that provide regulatory-compliant systems. You can hire a company or get an automated system integrated into your website, according to your corporate approach.
While large business owners prefer getting full-fledged identity verification solutions for their platforms, you can initially sign up for a dedicated age verification system and then go ahead.
