PayRemit, a mobile e-commerce app that allows lower-income workers to shop and pay in installments, has signed an agreement with DIFC-based IDnow Middle East to provide automated identity verification for PayRemit customers’ onboarding.
PayRemit offers an easy-to-use solution for low-income households to purchase items such as mobile phones and household appliances in low-cost installments. PayRemit will benefit from IDnow’s global expertise in digital identity proofing as a result of this agreement, ensuring customers have a secure, fast, and convenient onboarding experience.
Speaking about the agreement, Vincent Paul Grey, CEO from 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 use AutoIdent, IDnow’s AI-powered automated identity verification system. AutoIdent enables businesses to quickly verify the authenticity of their customers’ identity documents in a matter of minutes, making digital onboarding processes scalable, secure, and reliable.
PayRemit was founded in 2017 and has since expanded to allow lower-income workers to purchase goods in the Philippines and the UAE through a robust app and online platform. Around 2.2 million people (52% of the UAE workforce) work in blue collar industries such as construction, domestic work, transportation, healthcare, manufacturing, security, and others. According to NOW Money, roughly 70% of low-income workers’ wages are shared with families in their home countries.
Customers can take advantage of an expanding product line, with new items added on a weekly basis, as well as the ability to better manage cash flow through convenient monthly installments. Products can be purchased in the country of employment (UAE) or shipped to families abroad (the Philippines).
