Trulioo this week announced that its flagship identity verification solution, GlobalGateway, now covers all BRIC—Brazil, Russia, India, and China—countries.
These are regions where B2C ecommerce growth rates are expected to grow faster than more advanced markets such as the US and UK.
“We focused efforts in securing data sources in these particular markets due to the significant growth in cross-border commerce, which has been made possible by Internet penetration and mobile technology,” said Jon Jones, President at Trulioo. “These emerging markets of today are ripening to become the main markets of tomorrow, and require versatile identity verification tools to do so.”
The BRIC countries have about 41 percent of the world’s population, and the emerging middle class in these countries topped 1.2 billion people last year, according to eMarketer.
“The next billion offers one of the biggest growth opportunities for global businesses,” added Jones. “Our clients can now expand into these new markets and onboard new customers from the emerging middle class easier and faster than ever before.”
GlobalGateway connects Trulioo clients to more than 145 data sources in over 45 countries to provide instant ID verification for over 4 billion consumers through a single API integration.
Next month, Trulioo will be participating in a Fintech Mission to Brazil. Organized by Global Affairs Canada through the Consulate General of Canada in Sao Paulo and the National Research Council Industrial Research Assistance Program, the mission’s objective is to establish Fintech specific R&D collaboration and co-development opportunities between Canadian and Brazilian companies toward future commercial benefits for both countries.