Check Your Wallet? How Mobile Driver’s Licenses are Changing Online Transactions
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Can you recall the last time you opened a bank account? It’s likely you walked into a local bank branch and spoke to a representative who asked for your driver’s license and social security card to verify your identity. Now imagine you want to create a bank account online. The process is likely similar—type in your social security number, take a picture of your driver’s license, and submit both to the bank via their webpage. Seems straightforward, right?
Identity verification is important—it protects us from identity theft and reduces the risk of fraud and unauthorized access for organizations like the bank. When you present a passport to get on a plane, a driver’s license to get access to government services, or your social security card when starting a job with a new employer, you are giving the person or organization you are working with the assurance that you are who you say you are. This process allows them to trust you and move forward with the transaction. However, when completing a transaction online, things get more complicated...
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