2013 Winner: Jumio

2013 Winner: Jumio

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Like so many businesses, mobile payments provider Jumio began with a problem: while trying to purchase a plane ticket online, whatever antifraud system the airline was using deemed Daniel Mattes a threat. For whatever reason, the solution did not think he was who he said he was. The episode led Mattes to create Jumio and an identity verification solution that would ensure legitimate buyers could conduct their business. In 2010, Mattes founded Jumio, whose Netverify solution provides real-time identification verification using passports, drivers’ licenses and government-issued ID cards. The company also offers Netswipe, which enables consumers to scan in payment card details rather than enter them (with human-sized fingers) on a small smartphone keypad. “By eliminating the need to have customers engage in the laborious and error-prone key entry at checkout,” the company says, “Jumio customers have higher transaction completion rates, increased revenue and reduced fraud and chargeback costs.” According to Jumio, by including Netswipe and Netverify in a mobile commerce app, retailers can significantly raise conversion of browsers to buyers. By eliminating manual key entry of verification and financial information, Jumio’s technology reduces the time needed to make a purchase on a mobile device from an average of one minute to five seconds. Businesses see a 20 percent conversion rate lift due to the speed and convenience of the card swiping technology, the company says. For businesses, Jumio notes its technology reduces fraudulent transactions, reduces chargebacks and guarantees that transactions will be at a cost below portfolio loss rates. The PCI-compliant technology also alleviates shopping-cart abandonment (which some estimates put north of 97 percent for mobile transactions), increasing conversion rates and sales. In addition, businesses have found that the technology is very easy to use and implement, with mobile SDK integration taking less than 30 minutes. Online travel Website Travelocity, indicative of the customers that voted to name Jumio Customer Choice Award winner in the Best Mobile Solution category, said: “Our customers have seen great results from the use of Jumio technology. We process more than 4,000 scans a day, and with Jumio embedded into our mobile apps, 50 percent of all credit card purchases are scanned via Jumio Netswipe.”

  1. Award Text 1 Best Mobile Solution – Customer Choice

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