Jumio, an online and mobile credentials management company, this past week announced that Optimal Payments, a global online payment solutions provider, has integrated Jumio's Netverify online and mobile ID document authentication service into its Neteller stored value service, according to a press release.

Jumio's Netverify product converts the customer's mobile device camera or webcam into an ID scanning terminal, making it faster and easier to capture and verify ID and other credentials. Netverify, which is now integrated into Optimal Payments' Neteller stored value service, is intended to help improve the consumer experience and ensure continued compliance with anti-money laundering regulations.

The deal will enable consumers to make instant and secure payments online in a variety of sectors including entertainment, gaming, retail, financial services, travel and digital content using Jumio's ID verification technology, according to the announcement.

Jumio said its real-time ID document authentication has reduced Neteller's account verification process from an average of 12 hours to less than two hours. This eliminates over 10 hours of processing time per customer and accelerates the customer verification procedure by over 80 percent, accoring to announcement.

Additionally, since integrating Netverify, Neteller said it has been able to reduce by half the number of accounts where manual reviews or additional checks are needed. As a result, Neteller is able to continue to comply with its "Know Your Customer" regulatory requirements while improving the customer experience.

"Our account verification process is now 80 percent quicker, making it faster and easier for customers to pay online," said Lorenzo Pellegrino, executive vice president of Neteller for Optimal Payments. "Over three quarters of our account upgrades are now automatically processed through Jumio, saving hours of manual review time by our staff and benefiting our bottom line."