iPiD and Digit9 partner to elevate customer payment experience
By Gloria Mathias
iPiD, a Singapore-based international payments identity, and Digit9, a product of LuLu Money (Singapore), have partnered during the ongoing Global FinTech Fest 2023 being held at Mumbai, India.
The partnership expands Digit9’s reach, allowing its users the additional benefit of payee verification on its proprietary remittance-as-a-service (RaaS) platform when sending real-time payments globally to India, USA, China, South Korea, Indonesia, Vietnam, and Nepal among other countries.
This includes the ability to instantly fetch and verify the authenticity of the payee’s name, bank account and mobile wallet details while adding a beneficiary for cross-border transactions.
This collaboration marks a milestone in iPiD’s mission to enhance digital payment security and operational efficiency. With iPiD’s receiver identity verification capabilities seamlessly integrated into the Digit9 platform, customers can now experience a secure and intuitive process for cross-border transactions.
Commenting on the partnership, Richard Wason, CEO, LuLu Financial Holdings, said, “Security and compliance are the cornerstone of the cross-border payments industry today, for their role in reducing costs, processing time and transparency. We are delighted to partner with iPiD to improve the quality of our services by ensuring the accuracy of beneficiary account information, thus guaranteeing peace of mind for our valuable customers.”
Alain Raes, Founding Partner, and Chief Commercial Officer of iPiD noted, “Digit9 is emerging as one of the most promising remittance platforms across the Middle East and Asia. We believe that the receiver identity verification capabilities offered by iPiD would enhance the operational robustness of the Digit9 platform by offering Digit9’s customers with a secure and intuitive platform for cross border payments.”
iPiD’s vision is to make cross-border payments easy, secure, and seamless. It seeks to achieve this by partnering with financial services providers (banks, payment systems, payment fintechs, wallets, etc.) to deliver an addressing data platform that helps the payment industry to provide a more efficient and user-friendly payment journey.
Digit9 is a product of LuLu Money (Singapore), a wholly owned subsidiary of the Abu Dhabi based financial services conglomerate LuLu Financial Holdings which has a presence in over 10 countries, managing a network of 300+ branches and digital payment assets across the Middle East, Indian sub-continent, and APAC regions. Digit9 is a RaaS provider focusing on cross-border payments and real-time payments networks designed for financial institutions and FinTech.
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