TORONTO, October 5, 2022 - Paays Financial Technologies Inc. (“Paays”), a Toronto-based
FinTech for Automotive Finance company today announced the release of the ID Verifier by
Paays API (“Paays IDV API”), continuing its mission of providing the automotive industry with
the advanced technology it needs to help stop auto financing fraud.
 
 
 In August, Paays announced a partnership with RouteOne which integrated the ID Verifier by
Paays solution into the RouteOne financing platform, enabling a seamless ID verification
process for Auto Customers and Dealers. Now with the addition of the Paays IDV API, Paays is
bringing the “seamless” to Auto Lenders as well.
 
 
 Industry figures show that auto financing fraud has grown to a $1Bn/yr problem in Canada (US
= ~$8Bn/yr), and with the push towards increasing digitization of Customer car purchase
journeys, the opportunity for fraud will expand even further.
 
 
 The new Paays IDV API is a first-of-its-kind solution that enables Lenders to interact directly
with consumers to create new KYC (“know your customer”) transactions, and to retrieve
existing KYC transaction results for credit applications submitted to them from their Dealer
partners.
 
 
 This flexibility in API architecture is also accompanied by significant robustness in validating
both the ID document and the Customer. The Paays IDV API includes document, face-match
and liveness checks, and also a number of other anti-fraud checks on devices, email addresses
and credit bureau fraud checks. The combination of these makes the Paays IDV API the most
powerful single API in the business!
 
 
In addition to Lenders, Paays is also making the IDV API available to potential partners in the
automotive CRM, DMS and Desking solutions businesses, for them to easily integrate a high-
powered digital KYC tool into their own Dealer-facing work-flow solutions.
 
 The Paays IDV API is easy to integrate, with developer-friendly API documentation and Sandbox
environments now available. With Auto Lender IDV API integrations already underway, Paays
welcomes further integration inquiries from other Lenders and Partners. More information on
API documentation and access is available by request, at <a href='https://www.paays.com' style='background: var(--gradient-blue-gradient, linear-gradient(90deg, #168ADF 0%, #44C8F5 100%)); background-clip: text; -webkit-background-clip: text; -webkit-text-fill-color: transparent; word-break: break-all;'>paays.com.</a>

Paays introduces the most powerful API in the business to help stop auto financing fraud

Founded in 2018, Paays is a Toronto-based FinTech solutions provider for digital identity, income verification, and pre-qualification solutions to Automotive Finance Dealers and Lenders. The Paays ID Verifier, targets identity fraud in vehicle financing with an easy-to-use smartphone application using advanced artificial intelligence, biometric, and anti-fraud technologies. Paays ID Verifier is now available directly from Paays, or through the RouteOne financing platform. Paays expects to be launching Income and Pre-qualification solutions in 2023. Learn more about Paays at <a href='https://www.paays.com' style='background: var(--gradient-blue-gradient, linear-gradient(90deg, #168ADF 0%, #44C8F5 100%)); background-clip: text; -webkit-background-clip: text; -webkit-text-fill-color: transparent; word-break: break-all;'>https://www.paays.com.</a>

Paays introduces the most powerful API in the business to help stop auto financing fraud

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