15th February 2022 :The company is pleased to announce that it has been granted a further patent for its ‘methods and systems for verifying transactions’ in Brazil.
The patent No BR 11 2012 024646-1 B1 was granted 8th February 2022 and is valid until early 2030.
The patent will assist the Company’s future expansion into Brazil, as the technology is incorporated into its Paydentity™ electronic identity verification system. Paydentity™ allows for rapid onboarding of customers whilst meeting stringent Anti Money Laundering and Know Your Customer (KYC) requirements.
The Company has also executed agreements with a Brazilian Government agency to access core identity data for individuals and businesses in Brazil to augment Paydentity™
Paydentity™ will have access to the Individual Taxpayer Registry) database, directly from RFB (Receita Federal do Brasil), ie, Brazil IRS, with confirmation of a person’s Name, Date of Birth, CPF Status, and Year of Death (if deceased) for a given CPF Number. CPF is mandatory for every Brazilian.
Paydentity™ will also including biometrics, from the drivers license document (CNH), directly from the Traffic Department (DENATRAN) database.
More than 74 Millions Brazilians have Drivers License document (CNH). Know Your Business (KYB) data will be available via the CNPJ (National Registry of Legal Entities) database, directly from RFB including a wide range of information for a given CNPJ Number. CNPJ is mandatory for every Brazilian company.
