PrimeRevenue Integrates Plaid Identity Verification Into B2B Payment Platform
PrimeRevenue integrated Plaid Identity Verification (IDV) into its PrimeRevenue Platform, which enables collaboration between buyers and suppliers and streamlines B2B payments.
The integration will help suppliers secure payments using IDV’s global identity and document verification, facial biometrics and real time fraud signals, the companies said in a Wednesday (Sept. 17) press release.
It enables suppliers to verify identities in as little as 30 seconds and provides them with full session records for compliance and exception handling, according to the release.
The PrimeRevenue Platform serves more than 59,000 suppliers, is backed by more than 100 funding partners, and processes over $300 billion in payment transactions annually, per the release.
“Modern supply chains demand smarter verification,” PrimeRevenue CEO PJ Bain said in the release. “With Plaid IDV, suppliers on the PrimeRevenue platform can rest easy knowing that their accounts are protected from bad actors.”
Plaid Head of Fraud Alain Meier said in the release that with this integration, the companies aim to provide speed and certainty to transactions, without adding complexity.
“Fraud prevention is paramount to B2B payments, and PrimeRevenue is an ideal partner to work with in strengthening trust and security across global supply chains,” Meier said. “Together, we’re helping suppliers get paid faster, buyers reduce risk, and supply chains run more securely—with streamlined identity verification built right into the payment experience.”
It was reported in January that the use of Plaid’s identity verification product jumped more than 400% in 2024.
In May, Plaid updated its identity verification product to counter the threat posed by fraudsters who use generative artificial intelligence.
The company added deepfake and synthetic media detection, facial duplicate detection to catch repeat fraud attempts, age estimation to flag impersonation risks, and risk-based flows that adapt in real time to streamline trusted users and escalate high-risk ones.
The PYMNTS Intelligence report “How FinTechs Are Fighting Identity Theft and Identity Fraud” found that fraudsters are using sophisticated tactics, including AI-powered identity manipulation, to commit financial crime.
Identity-related suspicious activity accounts for 42% of all suspicious banking activity, with verification circumvention being the most reported type of fraud, according to the report.
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