IPification continues to tighten its grip on the Cambodian market. The company has agreed to provide secure authentication services for U-Pay, an e-Wallet and mobile payments service that was licensed by the National Bank of Cambodia in December of 2020.
U-Pay is hoping that the partnership with IPification will decrease abandonment rates during onboarding, and deliver a better user experience for those who do stick with the platform. The IPification platform cross-references IP addresses with SIM and phone data to make sure that the person signing up for a service is in fact the true owner of that device. The user, meanwhile, only has to make one click to verify their identity.
The process is much faster than alternative (and vulnerable) authentication methods like SMS one-time passwords. U-Pay can be used during in-person and online transactions, or to pay bills and transfer money to other individuals. It is also the first mobile payments service to adopt IPification’s anti-fraud technology in Cambodia.
“At U-Pay, we are committed to providing an easier, modern payment system to enable our users to keep up with the rapid mobile-first development in Cambodia,” said U-Pay CEO Koh Hao Jie. “IPification is completely revolutionizing the mobile authentication landscape by removing trade-offs from the equation, making them the perfect partner for U-Pay.”
“It feels great to onboard yet another service provider in Cambodia, after partnering with the major mobile network operators in the country,” added IPification CEO Stefan Kostic. “Cambodia is our home away from home, and we’re very excited to keep expanding our services within the country.”
IPification is already providing phone verification services for the Cambodian mobile operators Metfone and Smart Axiata, and for the Internet Service Provider MekongNet. The company also released a new IM Auth service earlier this year that allows end users to verify their identities through the WhatsApp, Viber and Telegram instant messenger applications.