Lemonway, a prominent pan-European payment institution specialising in marketplace payment processing, has joined forces with Entrust, a global leader in identity verification solutions.
This collaboration aims to deliver a seamless onboarding solution tailored for marketplaces, addressing compliance and operational challenges.
The partnership focuses on launching Online Onboarding, a turnkey solution designed to ease the burden of onboarding for marketplaces. By integrating Entrust’s advanced identity verification capabilities, Lemonway empowers marketplaces to streamline their operations, and enhance compliance.
Lemonway serves as a payment institution authorised by the ACPR (Autorité de Contrôle Prudentiel et de Résolution), offering solutions like wallet management, payment processing, and anti-money laundering (AML) compliance for marketplaces across Europe. With over 1.3 million wallets under management and €50m raised in funding, Lemonway supports 400 platforms, including 200 alternative finance platforms.
Entrust provides advanced identity verification technology, including biometric checks, document verification, and Qualified Electronic Signature (QES).
The Online Onboarding solution offers numerous benefits, including rapid identity verification (under two minutes for individuals and 48 hours for businesses), end-to-end onboarding management, and customisable branding options. It also features advanced fraud prevention tools, scalable functionalities, and an intuitive dashboard, ensuring an optimal experience for marketplaces.
The solution also ensures rapid compliance with stringent European KYC and AML regulations while delivering a secure onboarding experience.
Jeremy Ricordeau, chief product officer and chief operating officer at Lemonway, said, “With Online Onboarding, Lemonway takes the operational burden off the shoulders of marketplaces, empowering them to concentrate on strategy, growth, and delivering value to their partners.
“Our solution, powered by world-class Onfido identity verification from Entrust, ensures compliance, security, and an exceptional user experience for merchants.”
Minh Nguyen, vice president of Onfido products at Entrust, said, “We are delighted to support Lemonway’s Online Onboarding solution. Lemonway has been a foundational partner as we have built our Compliance Suite offering to support their strategic needs in the EU through ETSI-certified identity verification and QES technology. This collaboration enables marketplaces to deliver a seamless onboarding experience while meeting compliance requirements and maintaining their focus on core business objectives.”
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