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Saturday, January 23, 2021
Home News BlockNotary and Tieron - Combating Payment Fraud Using The Blockchain

BlockNotary and Tieron – Combating Payment Fraud Using The Blockchain

BlockNotary’s new app uses Tierion to combat fraud and simplify signups for Pay-Me, a Russian mobile payments processor with over 30,000 installed devices. Currently, new Pay-Me customers must visit an office for an interview with a customer service rep. Blocknotary replaces this in-person visit with a video interview conducted via a mobile application. Tierion is used to collect the data and create a verifiable record of the entire process.

Demonstration Video (1min)

 

Why is this needed?

Russian criminals steal credit cards and use mobile PoS terminals to launder money. In response, Pay-me requires new customers visit an office for an interview and pass a background check before shipping a PoS device. Blocknotary’s Video Interview application let’s customers verify their identity and conduct an interview from their location. The customer’s statement of intentions and the information needed for a background check are collected. This makes the onboarding process smoother for new customers and allows Pay-Me to ship a PoS device before a background check is complete. Additionally, Pay-me gets a tamperproof record of the entire process that can be verified using blockchain. This record can lower Pay-Me’s legal liability and be useful to police that are investigating fraudulent activity.

“Recording a video of yourself during the registration process helps prevent fraud. As CEO, I’d like to make it as difficult as possible for criminals to use Pay-Me to conduct illegal activities,” said Pay-Me CEO, Vladimir Kanin.

Blocknotary’s first product is an IOS application that allows you to notarize photos, documents, and videos in the blockchain. Download the Blocknotary IOS app.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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