digital identity verification and e commerce platforms
digital identity verification and e commerce platforms

Digital Identity Verification and E-commerce Platforms – Tradedepot Use Identitypass to Prevent Fraud and Fake Identities


Online marketplaces are now considered the lifeline of most developed countries. Recently, developing countries in Africa are also catching up with the trend of online markets very quickly, and many businesses have diversified their approach online, or new brands have been established. When it comes to online trading, the security of the online platform is just as important as sales. An exciting aspect of the online marketplace is the introduction of e-commerce platforms where different retailers can register, advertise their products and make easy sales without needing a physical store; we see this as an online shopping complex/mall composed of different brands for different audiences or customers.

Typically, traders prioritize safety in their physical stores by hiring safety officers and putting them at strategic locations to prevent robbery or other forms of chaos. However, how can we solve fraud and identity theft cases in online marketplaces, as they’re more easily accessible to various individuals? This brings us to the significance of deploying digital identity verification solutions.

This article summarizes how Trade Depot is presently promoting security and actively preventing the activities of fraudsters on its platform.

About TradeDepot

TradeDepot is a finance and B2B e-commerce platform offering a wide range of consumer goods to SME retailers. TradeDepot is promoting simple retail distribution in Africa and has developed a practical solution that integrates players in the trade value chain: manufacturers, distributors, and retailers; across Nigeria in distributor warehouses.

Having raised $10 million in a pre-Series B equity round, TradeDepot’s platform continues to enable small retailers to quickly have a real-time view of the prices and discounts available from all the major brands, order products, and then get deliveries when an order is routed to the appropriate depot at proximity. Throughout the process, the manufacturer has visibility into their distribution and can leverage this to optimize deliveries to distributors, improve pricing, and have a direct channel to smaller retailers. Trade Depot is driven by the main objective of enabling all local businesses in Africa to obtain supplies at the best possible prices systematically.

Identitypass helps Trade Depot to ensure that:

A merchant/retail seller is real

The first thing Trade Depot tries to ascertain before allowing people to sign up on its platform is to check whether they are who they say they are, regardless of the type of identity document they possess.

The seller’s business is active and legit.

These two questions go hand in hand and are essential to check because they must comply with the laws and regulations of the country of residence. Trade Depot executives are responsible for ensuring that their clients have active businesses at the time of onboarding by checking if sellers/dealers possess valid business documents such as CAC documents and RC numbers and whether these documents are functional or expired, or even suspended.

The seller meets the age requirement.

Another important consideration for online marketplaces like Trade Depot is checking whether a seller is 18 or 21 (or old enough according to the country’s law). Enabling underage traders carries significant legal and security risks. With Identitypass, Trade Depot easily and quickly confirms traders’ age by checking their issued IDs/documents.

Online marketplaces fraud is being Prevented.

In general, fraud isn’t going away anytime soon, including on e-commerce platforms. As millennials and 21st-century communities in Africa take more advantage of online marketplaces to promote and sell their various products, innovation and demand in this industry will continue to grow, leaving more exposure for exploitation by fraudsters and impersonators. However, Identitypass provides a fast and secure way to verify online retailers. Its unique AI-powered technology helps spot scammers and prevent the recurrence of some of the most common types of fraud.

Get Started and Promote Online Trust On your Platform today!

Identitypass is currently available to businesses that want the identity of their designated customers and partners to be verified without interruption before engaging in business transactions with them. You can contact our team to get started as a new user. We have a combination of resources for you when you start with Identitypass. Check our documentation page for more information about our endpoints.

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