LegitScript, a leader in merchant and product certification, announced on August 26, 2025, the launch of two major enhancements to its AI-powered Merchant Onboarding solution: Global Business Identity Check and U.S. Tax Identification Number (TIN) Verification. These updates streamline Know Your Business (KYB) processes, reduce fraud, and ensure compliance for payment facilitators, ISOs, and acquiring banks worldwide.
Fragmented KYB workflows and inconsistent data have long hindered payments companies, slowing onboarding and increasing compliance risks. With fraudsters leveraging AI for sophisticated schemes—costing $470M in 2024 per the FTC—and card networks like Visa and Mastercard tightening rules (e.g., VIRP), LegitScript’s enhancements offer a unified solution. “As fraudsters become more sophisticated and card networks tighten their requirements, payment facilitators risk fines and lost revenue,” said Tom Cook, Chief Product and Technology Officer at LegitScript.
The Global Business Identity Check verifies business legitimacy across 120+ countries using official registries, confirming registration status, name accuracy, and entity details. This enables:
The U.S. TIN Verification integrates IRS tax ID matching into LegitScript’s platform, ensuring a merchant’s legal name and TIN align with IRS records. Benefits include:
The upgraded KYB Checks module delivers consolidated reports, allowing payments companies to select checks, upload data once, and automate approvals. “LegitScript helps QorPay make decisions much more efficiently by saving us anywhere from 20 minutes to several hours on each application,” said Stacie Wrenn, Director of Global Compliance at QorPay. In 2024, LegitScript saved clients $1.6B in potential card network fines, per the Nilson Report.
LegitScript’s solutions align with Visa’s Integrity Risk Program (VIRP), requiring certification for high-risk merchants like pharmacies and telemedicine providers. The company’s AI-driven platform, Xray, and partnerships with Persona and Google enhance its fraud detection, covering 60M+ merchants and billions of data points. Competitors like Socure focus on KYC, but LegitScript’s KYB specialization and global reach set it apart in the $10B compliance market.
LegitScript’s Global Business Identity Check and U.S. TIN Verification empower payments companies to onboard merchants faster, reduce fraud, and meet stringent compliance demands, solidifying its leadership in merchant risk management.
LegitScript, the global leader in Enterprise Risk Management Solutions, is trusted by the world’s largest search engines, e-commerce marketplaces, payment service providers, and social media platforms. By combining advanced, AI-driven technology with deep domain expertise and curated market intelligence, LegitScript empowers businesses to stay ahead of emerging threats and seize new growth opportunities with precision and speed. Our global team of regulatory experts and analysts is skilled at understanding global regulatory changes and assessing risk across products, websites, merchants, and platforms, providing clients with unmatched accuracy, actionable insights, and exceptional support.
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