PayRemit, the mobile e-commerce app which allows lower-income workers to shop and pay in instalments, has signed an agreement with DIFC-based IDnow Middle East to provide automated identity verification for the onboarding of PayRemit customers.
PayRemit provides an easy-to-use solution for lower-income households to purchase items through low-cost instalments, from mobile phones to household appliances. Through this agreement, PayRemit will benefit from IDnow’s global expertise in digital identity proofing, ensuring customers experience secure, fast and convenient onboarding.
Speaking about the agreement, Vincent Paul Grey, CEO of PayRemit said, “We are committed to providing exceptional levels of customer experience and this cooperation with IDnow will empower us to improve the digital process of verifying customer identities. Through this technology, we can enhance the speed, security and accuracy of customer onboarding.”
Basil Macklai, Head of Middle East at IDnow, added, “PayRemit is providing an essential service for workers who play such a crucial role in the UAE economy. We look forward to applying our extensive global experience of working with buy-now, pay-later (BNPL) players to support PayRemit. Our cooperation will ensure world-class, secure digital identity proofing that makes it far easier for customers to set up an account and streamline approvals for the business.”
PayRemit will deploy AutoIdent, IDnow’s automated, AI-powered identity verification. AutoIdent helps businesses quickly verify the authenticity of their customers through their identity documents in just a few minutes, making digital onboarding processes scalable, secure and highly assured.
PayRemit started in 2017 and has since grown to enable lower-income workers to purchase items in the Philippines and the UAE, courtesy of a robust app and online platform. Around 2.2 million people (52% of the UAE workforce) are blue-collar workers, supporting a variety of sectors including construction, domestic work, transport, healthcare, manufacturing, security, and more. According to NOW Money, approximately 70% of the salaries of low-income workers are shared with families in their home countries.
Customers can enjoy a growing range of products, with new items added weekly and the ability to better manage cash flow across convenient monthly instalments. Products can be bought in either the country of employment (UAE) or sent to families abroad (the Philippines).
