Why am I being asked for ID?
Identity checks are increasingly important in the digital age to prevent fraud. mWire’s third-party integrated payment provider that allows you to top up your mWire wallet with a debit card or other payment method may need to verify your identity. Once your mWire wallet is topped up with USDC, it cannot be clawed back by the payment provider, so ID checks keep everyone secure.
One thing we can see clearly: customers who have a date of birth on file are far less likely to be pushed into a document check. Only about 8% of customers currently do.
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