Latest news with #Checkoutcom
Yahoo
2 days ago
- Business
- Yahoo
Checkout.com introduces direct acquiring services in Canada
has launched its direct acquiring operations in Canada, extending its reach within the North American market. The move enables Canadian customers gain greater control over their payment transactions, with the potential for higher authorisation rates and improved payment performance. The company, known for providing payment solutions to international brands such as eBay, Klarna, and GE Healthcare, reported expansion across all regions in 2024, with the US market experiencing growth exceeding 80%. Earlier this year, established a new office in San Francisco to support its growth trajectory. head of revenue for North America Zack Levine said: 'North America is seeing a major shift in how people spend, and we are ready to help enterprise merchants capitalise. 'Through one integration point, merchants can access our full suite of online pay-in and payout capabilities across cards, bank rails, wallets, and popular methods like PayPal and Venmo, in addition to a variety of advanced solutions like Pinless Debit.' To spearhead the growth in North America, has appointed Zack Levine as head of revenue for the region. Levine, who initially joined the company in 2021 to head the US sales division, was later appointed as general manager for Israel in 2024. In his current role, Levine is tasked with overseeing the commercial strategy and the performance of various teams, including sales, business development, account management, and solutions engineering, in both North America and Israel. Levine stated: 'We are hyper-focused on bringing best-in-class engagement to the payments industry and ensuring that we continue to distance ourselves from the pack in terms of service and what it means to build long-term partnerships.' In May, collaborated with UAE-based fintech company du Pay, aimed at enhancing wallet top-up capabilities to support fintech services in the UAE. " introduces direct acquiring services in Canada " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Finextra
2 days ago
- Business
- Finextra
Checkout.com launches in Canada
The launch of Canada is the company's next big move in North America. The company has opened an office in Canada and hired a new leadership team to better serve the growing Canadian payments market. This expansion of in North America is part of similar efforts across global markets. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Levine steps into this new role in tandem with launch of direct acquiring in Canada. Powered by processing technology already trusted by thousands of merchants worldwide, direct acquiring in Canada offers customers more control over their transaction data, enhanced authorization rates, and greater payment performance. As the ninth-largest ecommerce market in the world, valued at CA$52 billion, Canada has over 27 million online shoppers, representing 11.5% of the country's total retail sales. With 62% of Canadian consumers shopping internationally and one in five digital commerce businesses earning most of their revenue abroad, Canada is a dominant market in today's digital economy. The announcement is the latest milestone in North American growth story. Today, is trusted by leading global brands including eBay, Klarna, and GE Healthcare. saw growth across all its operating regions in 2024, with the US growing at more than 80%. The company opened a new San Francisco office earlier this year, reflecting a growing demand for serving merchants across the region. North America's strategy includes a localised approach to better meet the specific needs of Canadian businesses and fintechs. According to 2025 Digital Economy Report, 18% of Gen Z consumers in Canada shop online at least once a day, a clear sign of shifting habits and growing digital fluency. Across the border, 48% of U.S. consumers say they plan to increase their use of ecommerce in the next 12 months, signaling sustained growth in digital spend across the North American region. Originally joining in 2021 to lead the US sales team, Levine later took the reins as the company's General Manager for Israel in 2024. In his new role, Levine will oversee commercial strategy and teams in both North America and Israel, including sales, business development, account management, and solutions engineering. 'North America is seeing a major shift in how people spend, and we are ready to help enterprise merchants capitalize,' comments Zack Levine, Head of Revenue (NORAM) at 'Through one integration point, merchants can access our full suite of online pay-in and payout capabilities across cards, bank rails, wallets, and popular methods like PayPal and Venmo, in addition to a variety of advanced solutions like Pinless Debit. 'But payment performance goes beyond access; it's acceptance rates, conversion, latency, uptime, integration depth, geographic reach, and most of all, exceptional customer support,' adds Levine. 'We are hyper-focused on bringing best-in-class engagement to the payments industry and ensuring that we continue to distance ourselves from the pack in terms of service and what it means to build long-term partnerships.' 'North America is one of the most competitive and complex payments markets, and under Zack's leadership, I'm confident in our ability to help more merchants meet this growing demand for digital commerce,' comments Antoine Nougue, Chief Commercial Officer. 'Canada is a core region for global expansion, so today's announcement is a critical part of our strategy, enhancing how we show up for our customers and help them unlock greater value from their digital payments strategies.' With the Canada launch, the company is growing its presence in North America while also getting into Canada's fast-growing fintech and ecommerce markets.
Forbes
3 days ago
- Business
- Forbes
Synthetic Identity Fraud In The Age Of GenAI: Are Traditional KYC Tools Still Fit For Purpose?
Luke Boddis, Senior Director - Global Business Development, In recent years, synthetic identity fraud has quietly become one of the fastest-growing forms of financial crime. Now, with the explosion of AI, the threat is accelerating at an alarming pace. Fraudsters no longer need stolen identities to commit large-scale fraud. Instead, they can generate entirely fake but highly convincing personas using AI-powered tools. This evolution presents a serious question for all businesses: Are traditional Know Your Customer (KYC) tools still fit for purpose? As someone working at the intersection of identity, fraud prevention and customer experience, I've seen firsthand how rapidly emerging technologies, particularly the use of AI, are reshaping the digital risk landscape. In my current role, helping global platforms modernize their onboarding and authentication journeys, I'm constantly engaged with businesses trying to stay one step ahead of increasingly sophisticated fraud. That's why synthetic identity fraud, and its growing impact on traditional KYC processes, is a topic I'm especially passionate about. The Rise Of Synthetic Identities Synthetic identity fraud is essentially creating a fake identity using a combination of both real and fictitious information. Fraudsters often use legitimate data points, like a real social security number or phone number, and blend them with false details such as fabricated names or photos. These identities can pass basic checks and are used to open accounts, build credit profiles and ultimately extract value from financial systems. In the pre-GenAI era, crafting believable identities at scale was time-consuming and technically difficult. Today, with free and widely available AI tools, a single individual can generate thousands of fake profiles with: • AI-generated faces that appear photorealistic • Deepfake videos to mimic liveness and fool facial recognition systems • Fabricated documents that bypass optical character recognition (OCR) tools • Language models to respond to verification questions convincingly The speed and accessibility of AI are nothing short of remarkable. But as impressive as these advancements are, they also pose serious risks, particularly for businesses facing a growing wave of identity-based fraud. Why Traditional KYC Falls Short Many KYC systems were built for a different era. Their reliance on static photo uploads, basic document matching and form-based data collection leaves them vulnerable to increasingly advanced synthetic techniques. Key limitations include: • Static Image Verification: These can be easily manipulated using tools like Photoshop or AI-powered face generators. • Document-Based Checks: Many forged documents now bypass automated verification tools with near-perfect replicas. • Lack Of Real-Time Liveness Detection: Without biometric verification, it's difficult to confirm the user is real and present. • Over-Reliance On Credit Bureaus: Fraudulent identities can build synthetic credit profiles over time, creating false legitimacy. In the GenAI era, these traditional tools provide a false sense of security while fraudsters exploit their blind spots. Modernizing KYC With AI And Biometrics To stay ahead, businesses must shift from passive to active verification methods. This includes embracing technologies that verify identity in real time, test for biometric liveness and detect synthetic fraud. Key strategies include: • Live Video Verification: Captures real-time movements to confirm a human is present and actively participating in the verification. • Biometric Liveness Detection: Uses AI to detect facial movements, eye blinking and 3D depth to confirm authenticity. • Face Authentication: Allows users to reverify or log in using a trusted biometric template, removing the need for passwords or one-time passwords (OTPs). • AI-Powered Risk Intelligence: Analyzes behavioral signals, device fingerprinting and anomaly detection to spot fake accounts. A Regulatory Imperative Globally, regulators are waking up to the threat of synthetic identity fraud. In the U.S., the Federal Reserve has highlighted synthetic identities as the fastest-growing type of financial crime. Meanwhile, the EU's AI Act and the U.K.'s Online Safety Act are pushing platforms to implement stronger age verification and identity assurance measures. Traditional KYC providers who rely on outdated, document-first workflows may soon find themselves out of step with these evolving standards. Time To Rebuild Trust Synthetic identity fraud powered by GenAI is not a future threat; it's happening now. As fraudsters evolve, so too must our tools. Relying on outdated methods is not only ineffective but increasingly dangerous. Businesses must act now to integrate real-time, AI-driven identity verification into their workflows. It's the only way to build trust at scale in an era where what you see is no longer what you get. And with consumer expectations rising, the platforms that lead in trust and safety will be the ones that win. Forbes Business Development Council is an invitation-only community for sales and biz dev executives. Do I qualify?
