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Socure has made a strategic acquisition to address a critical gap in the rapidly expanding Buy Now, Pay Later credit market. The identity verification leader has acquired Qlarifi, the first real-time BNPL consumer credit database, combining its identity and risk platform with cross-provider repayment visibility to establish a new infrastructure for safer, more transparent lending.
Socure acquires Qlarifi, the first real-time Buy Now, Pay Later consumer credit database.
The combination creates a unified identity, fraud, and BNPL credit decisioning infrastructure.
It aims to reduce first-party fraud losses for lenders by up to 70% and prevent consumer overextension.
The system validates applicant identity across providers and identifies cross-provider loan stacking.
It enables thin-file consumers to build credit through responsible BNPL repayment.
The move addresses regulatory calls for transparency as BNPL spend is projected to exceed $700B by 2028.
BNPL transactions have historically operated outside traditional credit reporting systems, creating blind spots for lenders and risks for consumers. Legacy credit bureaus are not designed for the high-frequency, small-dollar decisions of BNPL. This acquisition aims to build the missing infrastructure to support responsible growth. “BNPL has outgrown the legacy systems that were never designed to support their innovative lending products,” said Johnny Ayers, CEO of Socure.
Qlarifi's platform, founded by alumni from Klarna and Zip, is purpose-built to aggregate real-time repayment data across multiple BNPL providers. This gives lenders insight to safely expand services for trustworthy customers while identifying high-risk behaviors like loan stacking. “We built Qlarifi to solve a very real pain point: the lack of infrastructure to protect consumers from overextending themselves,” said Alex Naughton, Co-founder and CEO of Qlarifi.
By integrating Qlarifi's real-time BNPL data with Socure's Identity Graph and RiskOS decisioning engine, the combined solution offers lenders a single system to validate applicant identity across providers, reduce first-party fraud, lower merchant payment costs, and provide a credit-building path for consumers with limited history. This unified approach also delivers the transparency regulators are seeking.
This acquisition expands Socure's RiskOS™ platform, which already covers consumer and business verification, fraud prevention, AML compliance, and credit underwriting. It positions Socure to provide the comprehensive infrastructure needed by all participants in the burgeoning BNPL ecosystem—lenders, merchants, consumers, and regulators—as it moves toward becoming a mainstream form of credit.
About Socure
Socure is the leading platform for digital identity verification, compliance and fraud prevention solutions, trusted by the largest enterprises and government agencies to build trust and mitigate risk. Leveraging AI and machine learning, Socure’s industry-leading platform achieves the highest accuracy, automation, and capture rates available in the industry.
About Qlarifi
Qlarifi is the first real-time BNPL consumer credit database. It provides insightful underwriting data for BNPL lenders via consumers' transaction history. With richer data, lenders can make more informed underwriting decisions - helping both BNPL providers and consumers.
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