Marketplaces carry a unique verification burden: they need to vet both sides of every transaction — the seller listing products and the customer paying for them — without adding friction that drives either one away.
Veriqos Technologies covers both. Business & Entity Verification confirms a vendor is a legitimate, registered business before they list a single product, while SMS OTP and bank account checks confirm customers and payouts are genuine — reducing fraud on both ends of the marketplace.
Verifying both sides of the marketplace
Seller checks protect buyers: confirming that a vendor is a registered business through GST or company records before they can list products stops fake storefronts at the door. Payout checks protect the platform: confirming that the bank account a seller is paid into belongs to that seller prevents money being diverted.
Buyer checks stay light. A phone number confirmed by SMS OTP is usually enough for ordinary purchases, with stronger checks reserved for high-value or unusual orders. Matching the depth of the check to the risk keeps genuine customers moving while concentrating effort where fraud is most likely.
The best verification APIs for e-commerce work quietly in the background, so honest sellers and buyers barely notice them while fraud attempts are stopped.
More about Verification APIs for E-commerce
To learn more about Verification APIs for E-commerce, explore our GST Verification API and Company CIN Lookup v1 API, or talk to our team. For the official source, see the RBI’s KYC Directions for NBFCs.
