authID has been selected by a US point-of-sale lending and payment financing platform to protect merchant onboarding, consumer origination, and account access workflows from identity fraud. The customer, which was not identified in the announcement, operates in the buy now, pay later and consumer retail financing space.
The lender will deploy authID Proof for identity verification using government-issued IDs during onboarding, and authID Verified for biometric authentication during subsequent account access and high-value or high-risk transactions. The authID platform uses a patented PrivacyKey architecture that does not retain biometric data, which the company says supports compliance with state privacy laws including CCPA and BIPA. The architecture also generates an auditable trail tied to the verified biometric of each user.
According to authID, the customer selected the platform to address a growing wave of fraud driven by organized rings using fabricated identities and stolen credentials to exploit onboarding and account access controls. Total US payments fraud losses in 2024 reached $12.5 billion. Within that, BNPL fraud drove the BNPL fraud prevention market to $3.7 billion, with projections suggesting growth to $25.9 billion by 2034.
Rhon Daguro, CEO of authID, said the deployment illustrates how fintech platforms are recognizing identity as the foundation of trust. He described the platform’s speed and frictionless experience as central to its value proposition in consumer finance, noting that the system completes biometric verification in under one second.
The win extends authID’s growing footprint in financial services and fintech. The company recently integrated its biometric verification into ServiceNow contact center workflows and partnered with Berify on biometric identity kiosks across more than 5,000 locations. Its PrivacyKey biometric authentication system, which underpins the current deployment, was launched in early 2025.
authID is listed on Nasdaq under the ticker AUID and markets its platform to enterprises under the positioning of ensuring organizations know who is behind the device for every login and transaction. The company targets both employee workforce identity and customer-facing use cases, with the BNPL and point-of-sale lending sector representing an expansion of its financial services vertical.
Sources: GlobeNewswire
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By the ID Tech Editorial Team
