Proof, a platform dedicated to securing the digital economy, has joined forces with Visa to protect high-value and high-risk transactions, as well as digital commerce, agreements, and banking.

Following the success of EMV chip technology in mitigating payment data breaches for card-present transactions, Proof now aims to enhance trusted digital identity in finance by creating an identity authorization network. This collaboration with Visa intends to foster a collaborative environment among financial institutions, fintech firms, and merchants, ultimately safeguarding consumers.

Securing the Visa Network through Identity

The partnership will integrate Proof’s identity authorization network with Visa’s payment network. Proof’s Certify offers features similar to those of EMV chips and extends them beyond physical transactions, securing biometrically tied identities cryptographically. Transactions signed with Proof Certify are expected to prevent first-party fraud for merchants while enhancing the user experience for legitimate consumers.

Expanding Payment Flows

Working with Visa Direct, Proof will enable individuals in the US to complete transactions online and efficiently transfer or receive funds through Visa’s payment network. Use cases include insurance payouts, retirement withdrawals, tax refunds, and real estate proceeds.

Enhancing Proof’s Fraud Model Through Visa’s Fraud Data

After gathering extensive data from various identity sessions, Proof has developed OmniTrust, a fraud model designed to prevent fraud and scale authorization rates in new consumer-to-business, government-to-consumer, and peer-to-peer money movement flows. Additionally, the solution includes a deepfake detection service aimed at identifying bad actors who misuse the Proof Identity Authorization Network.

This collaboration has given Proof access to Visa Protect Risk Insights data. By comparing transaction data and fraud trends across both networks, Proof aims to secure transactions more effectively. The partnership is expected to develop a robust identity-verified transaction network that is resistant to fraud, privacy-conscious, and scalable. Linking Visa’s global fraud insights with its persistent digital identity will help reduce repetitive ID checks, catch fraud before it occurs, and empower consumers and businesses to transact with greater confidence.