A Guide to Verifying Users for Marketplaces
How online marketplaces can verify users and reduce fraud at global scale with phone verification.
Online marketplaces have revolutionized the customer experience. Now among some of the world’s most valuable companies, services marketplaces have led the disruption of transport, accommodation, food, and pioneered the sharing and on-demand economies. Regardless of industry, the global success of marketplaces is built on providing a seamless experience across every step of the user journey.
It’s now more crucial than ever to verify your users are who they say they are. Otherwise, it becomes more than just an inconvenience for you and your customers. The risk of fraudsters exploiting your marketplace isn’t just about potential financial and legal costs. The far bigger risk is to your user experience and trust. If your customers on either side of your marketplace lose trust in the exchange, they will vanish.
But as a fast-growing marketplace onboarding hundreds of thousands of users around the world, how can you securely verify users at global scale without sacrificing a frictionless experience that drives sign ups? Find out with this guide.