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Safety and convenience in acquiring equipment on credit in shops

Veridas transforms in-store purchasing with a secure and efficient solution for purchasing equipment on credit. Customers can now enjoy a fast and reliable validation process, minimising fraud and enhancing the shopping experience.
Success Stories Telco Mexico

/Results

0 M
Validations in 1 year
0
Validations per minute
0 %
Conversion rate

/Overview and Challenges

Who is the client?

Mexico’s leading telecommunications company, and one of the largest in Latin America, was facing serious challenges in its equipment procurement process on credit. These challenges included high levels of fraud and an unsatisfactory user experience. The security infrastructure and operational management system they were implementing was insufficient and riddled with deficiencies. The processing that took place within their system had multiple failures, leading to unexplained incidences of fraud and marked dissatisfaction among their customers.

Challenges and problems

  1. Inefficient Processing Funnel: The processing system was inadequate, resulting in a slow and inefficient procurement flow.
  2. Unexplained Fraud Incidents: They regularly faced fraud cases that could not be traced or explained, increasing losses and undermining trust.
  3. Lack of Security and Poor User Experience: The process lacked robust security measures, leading to poor user experience and significant vulnerabilities.
  4. Lack of INE Verification: No identity verification service was implemented through the INE, opening the door to identity theft.
  5. Fraud with Fake Documentation: Fraudsters exploited security breaches by requesting equipment with fake IDs and copies, generating unpaid debts as the people associated with the contracts did not actually exist.

/Opportunities and Benefits

Opportunities

/Significant Fraud Reduction and Improved Process Security.
Reduction of fraudulent activity through accurate, real-time validation of customer identity. In addition, the interests of the company and its customers are protected by ensuring safer and more secure transactions.

/Increased efficiency of the procurement funnel.
Optimisation of the equipment procurement process with a capacity to process 15 validations per minute. In turn, the speed and fluidity of the process is significantly improved, exceeding industry standards and contributing to higher sales conversion.

Benefits

/Increased Customer Confidence and Improved User Experience.
Generation of greater trust among customers by ensuring an improved user experience and more secure processes.

/Strengthening of the company-customer relationship, fostering customer loyalty and satisfaction and consolidating the company’s reputation in the market.

/Expansion of the business.
Creation of new opportunities for growth and expansion by improving and developing existing workflows. Also, flexibility and scalability in the face of changing market needs, allowing you to diversify services to stay ahead of the curve.

/Challenges addressed by Veridas

To address the challenges of the equipment acquisition process on credit, we offered several channels to securely acquire equipment without the need to visit a branch office in person. This comprehensive strategy focused on reducing fraud and improving the user experience.


This initiative aimed to overcome previous technical issues and ensure a smooth transition. To achieve this, we worked closely with the company’s team to understand their unique requirements and design a customized solution seamlessly integrated into their established workflow.


This integration focused on process optimization, minimizing the impact on day-to-day operations and ensuring a smooth transition to the new system. This holistic approach not only reduced fraud and improve the user experience but also ensured a successful implementation and smooth adoption by the company’s team.

/How it works

VISIT THE SHOP

The customer arrives at the shop and an advisor displays equipment options on a tablet and offers credit for their purchase.

DATA COLLECTION AND VERIFICATION

The customer’s INE (National Electoral Identification Number) is captured.
The customer takes a selfie that we use to verify their identity automatically on our platform.

SELECTION AND BIOGRAPHICAL DATA

The customer selects the desired product. He then provides additional data required for the transaction.

SIGNING OF THE CONTRACT

The customer signs the contract using biometrics.

DELIVERY AND VERIFICATION

The delivery person, using an application, verifies the customer’s identity by means of a photo before delivering the equipment.

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