India is becoming a development hub for games with a market size of 90 billion rupees. The online gaming industry is growing at a CAGR of 22%. Due to Covid-19 engagement of online gaming websites or apps rose by 24%. With growing internet penetration, investments in the gaming industry are expected to double in the upcoming 1-2 years.
Our client’s gaming platform provides various quizzing games on a variety of topics and also gives the players a chance to win real-time money through the app when they play and win those tournaments and quizzes.
Now, the major challenge our client wanted us to address was to verify the identities of the players who were using our client’s services and playing the games and tournaments. This included verifying the age of the players, their bank account details so that money is not transferred to fake accounts, and also minimizing the user dropout rates due to the lengthy verification process.
We tackled all these problems with ease. We provided our client with a system that handles everything easily. We conducted a smooth onboarding process of the players and used real-time digital PAN verification APIs to verify all the necessary fields without any hassle and also reduced the dropout rates.
Services offered by us to the Client:
- Since the platform has a wallet system for the transfer of money, Identity verification of the players was necessary. It was also needed to ensure that the user is of playing age.
- Bank account verification to check if the account is legit and to ensure the anti-money laundering act by the Indian Government.
- PAN verification to check the bank account owner.
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How do we do it?
We needed to make sure that the user is of playing age as per the terms and conditions and also needed to ensure that the documents submitted by the user are authentic. Proper documents are also needed to check if the user is from a state where the fantasy gaming services are restricted. This was done through ID verification where the address of the user was also verified.
We customized our APIs according to clients’ needs and used real-time KYC and OCR technology to make the process smooth, fast, and risk-free. We check the identities through real-time Aadhaar verification combined with video KYC. Users who are above the age of 18, are allowed to use the services and those less than 18 are prohibited from using the platform. Also, the ones who belong to states which have banned skill-based gaming are barred from using the service. The bank account verification is done in order to ensure that the amount goes to the designated account and is not rerouted in any manner.
With our APIs, you simply have to input the ID number, say PAN number or Aadhaar number in this case, into the system and it will give you results in an instant. We check the inputs through the government as well as the public database. So, the chances of error are almost equivalent to zero. Our APIs extract data like name, age, d.o.b, address, photo, mobile number, and gender for ID verification. All this process is spontaneous. We won’t keep you waiting for the results.
After the services, the user onboarding process was made flawless. The risks of fraudulent users were minimized and the dropout rates of the users reduced significantly and the client felt more assured during the transfer of money into the user’s account.