For those of you who aren’t familiar with Telegram Passport, “it’s a unified authorization method for services that require personal identification.” It means that users can upload their ID, residential address, selfies with ID to the platform, and then share it at any service that requests these documents. It works just like “enter via Facebook” button, but for KYC.
With the help of this feature, users need to upload their data — photos, scans of documents, info about their place of residence — via the Telegram app only once.
After the user’s consent, Sum&Substance receives this data, verifies it and conducts the KYC check through its own internal system. The checking takes only 1-3 minutes, and, in case of user error or poor image quality, users will receive a detailed comment directly in the Telegram app.
Although Telegram Passport stores documents in a cloud, employees of the messenger don’t have an access to the data. All information is stored in encrypted form, and the access key is only available for the user. KYC provider gets access to the data only after a user’s consent. Sum&Substance complies with the strictest data protection law — the European Directive of the GDPR.
“It is fast, simple and convenient. There are lots of services which require KYC, and user needs to conduct the same process for each of them — upload a photo of passport, a selfie, sometimes it is mandatory to add a utility bill, and it could be an obstacle for some users. And the simplicity of Telegram Passport resolves this issue,” — assures Anti Danilevski, CEO at KICKICO.
“Telegram Passport simplifies the mandatory procedures for the user as well as for ICOs. KICKICO is one of the most technologically advanced of our partners. So, of course, they were among the first platforms in this sphere, who have integrated Telegram Passport button for KYC,” — says Andrey Severyukhin, CEO at Sum&Substance.