Jumio, is breaking new ground in ID verification and ID authentication while enabling faster and easier mobile payments. Jumio is laser focused on its near-term growth plans and has long-term plans centered on digital wallet credentialing.
Boston, MA (PRWEB) September 15, 2014
Today, as merchant data breaches are becoming almost commonplace, the payment data of tens of millions of customers is being openly sold on the Internet, and fraud is increasing both at point of sale and online, most financial institutions and retailers are trying to address data security and protect their customers’ information. Technology needs to be used to prevent the misuse of payment information and the fraudulent use of individuals’ personal identity information.
Mercator Advisory Group’s latest research, Jumio, a report in the new Company Snapshots Series, describes a four-year-old start-up firm whose patented technology revolutionizes ID verification and authentication by using optical scanning of credentials by mobile or desktop camera and enabling autofilling of application forms. The analysis describes the current array of products of this California firm. Only a handful of companies are direct competitors, but Jumio is partnering with firms among the larger number of “Know Your Customer” and “Knowledge-based Authentication” data providers to provide solutions that are valuable and innovative and set the company apart from its competitors. The firm’s most significant impact seems to be in the etailer and online gaming, travel, and financial services spaces. Etailers and travel industry merchants appear more than happy with the convenience and low levels of friction for consumers in payment transactions for purchasing or new account applications. Slower uptake by financial institutions can be attributed to the more conservative path financial service providers generally take.
“Jumio, a Palo Alto-based venture capital start-up, is breaking new ground in ID verification and ID authentication while enabling faster and easier mobile payments. A valued partner and vendor to e-commerce and financial service companies, Jumio is laser focused on its near-term growth plans and has long-term plans centered on digital wallet credentialing,” comments Ron Mazursky, Director, Debit Advisory Service at Mercator Advisory Group and author of the company snapshot.
Highlights of this research company snapshot include:
- Jumio’s history and background
- Product overview of Jumio products Netverify, Netswipe, and Fastfill
- Company’s innovative positioning in the payments industry relative to fraud prevention, ID verification, and e-commerce
- A view of its business model relative to revenues and expenses
- Partners’ experiences with Jumio
- Customer focus and the voice of the customer
- SWOT analysis: the company’s strengths, weaknesses, opportunities, and threats
- Strategic implications and market potential
The report has 11 pages and 3 exhibits.
Organizations mentioned in this Company Snapshot include: Airbnb, bets4all, betfair, Equifax, Groupon, Gyft, Higher One, Kraken, Priceline, Rank Group, Safello, Travelocity, United Airlines, Western Union, Yobetit, and Youwin.
About the Company Snapshot Series
This ongoing series of research documents is designed to highlight payments and banking technology companies of interest to Mercator Advisory Group clients because of their high growth potential. Companies are selected for review based on their relevance to Mercator’s members in terms of innovation, opportunity, or potential market offerings or disruptive technology. In general, companies selected for review already have products or solutions in production that have attained meaningful traction in the marketplace.
Members of Mercator Advisory Group’s Debit Advisory Service and Company Snapshot Series have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
For more information and media inquiries, please call Mercator Advisory Group's main line: (781) 419-1700
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About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.