British FinTech Checkout acquires French company Ubble

British FinTech Checkout acquires French company Ubble

To discover the news of FrenchTech, and the information not to be missed directly in your mailbox at 3 p.m. every day, click here The British online payment specialist Checkout, which provides merchant sites with solutions for the online payment of their customers, has acquired the French start-up Ubble, a specialist in online identity verification, it announced. Thursday in a statement. The transaction amount was not sent.

The online payment sector has developed a lot in recent years with the acceleration of online commerce, facilitating the emergence of new players such as the American Stripe, the Dutch Adyen, or Checkout. Online identity verification is a strategic capability for these companies, allowing them to offer their services for transactions that require a very high level of confidence in the identity of the Internet user.

A valuation of 40 billion dollars

“This is clearly a growing need among our customers, including e-commerce and cryptocurrency players, digital wallet managers as well as fintechs,” said Meron Colbeci, Product Manager at Checkout. Ubble has a hundred employees in France. Founded in 2018, it has developed an online identity verification system via the user's smartphone, using artificial intelligence and machine learning.

The Internet user films his identity document with his smartphone and then takes a short video of himself, making it possible to verify that he is indeed the owner of the identity document. Ubble claims to be able to enable identity verification based on more than 2,000 official documents, from 214 countries. Checkout raised $1 billion last January, reaching a valuation of $40 billion.