The customer

Pin Payments is an online payments software solution that enables businesses to accept online card payments from their customers. Pin Payments build intentionally simple software to help its customers accept card payments, whether they run an online store, sell subscriptions, invoice their clients, or process card sales manually.

The challenge

Launched as a start up in April 2013, Pin Payments offered Australia’s first all-in-one multi-currency payment system that didn’t require a merchant account — just an active ABN and an existing Australian bank account.

The service removed the complexity of processing payments thereby allowing small Australian businesses an easy way to get paid online. Pin Payments allowed businesses to accept payments from local and international customers with same day account set-up and activation.

As a payment facilitator, Pin Payments was required to perform KYC checks against every new account request. They fulfilled the KYC requirement through a labour-intensive process where documents were requested from every customer and verified manually through an online service.

Whilst this was acceptable initially, Pin Payments knew the onboarding process wouldn’t scale and could pretty much hamper their turnaround time. It was vital for Pin Payments to offer a streamlined onboarding process to facilitate growth in customer acquisition.

The solution

Pin Payments deployed GBG greenID to fast-track customer onboarding by allowing its business customers to perform their ID verification in real-time as part of the online application process.

The real-time electronic verification process delivered by greenID™ enabled Pin Payments to live up to its core brand promise of instant account setup and activation. The implementation of greenID™ helped Pin Payments streamline the application process for its customers thereby reducing friction and enhancing customer experience leading to reduced abandonment and improved revenues. It had the added benefit of helping the team at Pin Payments reduce its manual workload and focus more on growing the business.

The outcome

“The implementation of greenID™ has had a very positive impact on the growth of Pin Payments’ business volumes. We have observed a 20% uplift in the number of customers who complete the onboarding process. We attribute this increase to the reduction in the ‘work’ our customers have to do in order to complete ID verification.”

Chris Dahl,
Director, Sales & Growth, Pin Payments