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They are in charge of their identity – they own it on their own device and they choose who to share it with.
Using their identity, they can reduce friction involved with proving who they are in order to access services and they can be assured that hackers can’t steal their identity.
Stripe has been audited by an independent PCI Qualified Security Assessor (QSA) and is certified as a PCI Level 1 Service Provider.
This is the most stringent level of certification available in the payments industry.
An identity management system that can remove the friction involved in authenticating a user can speed up the service, reduce cost and increase customer retention.
This makes service providers as one of the most important stakeholders in Identity Management Last but not least are governments as major stake holders of identity.
They all provide a service to users that personal and unique and requires the users to authenticate themselves and/or share information about themselves.
Many of these service providers are under regulation and required to protect the user’s information and credentials and therefore need to know who the user is before providing them a service.
Furthermore, different service providers can use this platform to allow a user to exchange information beyond their simple identity – things such as a credit report that is certified by a credit reporting agency.
Sho Coins are an integrated part of the Sho Card platform and allow for exchange of compensation between different entities as users share their identity and other information that service providers associate with their identity such as their credit score or college certificate.
User’s data, including their biometrics is always on their phone and encrypted when stored.
PCI compliance is a shared responsibility and applies to both Stripe and your business.
When accepting payments, you must do so in a PCI compliant manner.