As technology is progressing, online services have become much more popular among youngsters. A report states that 94% of children aged from 3 to 18 years have an access to the internet. There is no doubt that the online services have opened great opportunities for kids to learn but have equally made them susceptible to age-exclusive services. As children have no idea how destroying such services could be, there should be a proper age verification solution in place to keep minors away from age-restricted products and services.
Age verification solutions integrate purpose-built services and products to authenticate the age as well as the identity of the client using digital services. Merchants who offer age-restricted goods and services are required by the law to restrict their access to such services in order to protect minors from any harm.
Risks Without Age Verification Services
Without having a robust age verification solution in place, firms can not ensure that their services and goods are appropriate for the end-user or not. What would happen if the arms-making company sold out its product to 14 years old or the tobacco firm sold out cigarettes to kids. The outcome would be alarming, no doubt, as it will impact both their physical as well as mental health. Furthermore, the firms selling out these goods are at a greater risk.
Brand Image at Stake
Whenever any client wants to buy an item, they always go for the brand which is popular and have a good image in the market. Thus, age checks come in handy for all the firms that deal with age-exclusive goods as it not only protects minors from the dangers of such products but also help the firm builds a great reputation. The question over here is whether people take it seriously when they are ask to verify age to access a specific service or good? Well, most of them do not. This is something concerning not only for the parents but also for the firm as it puts a question mark on the company’s credibility.
Businesses are require to take several measures for the security of minors but it becomes challenging for those who are operating online. Digital businesses are under strict observation of the regulatory authorities and that’s why they have to deploy online age verification solutions. Not accomplishing this will lead to a negative brand reputation.
Regulatory Compliance
Another challenge faced by digital companies is their compliance with the KYC regulations including age verification laws. It is evident from shufti pro news that the lack of KYC and KYCC practices has put the companies and minors at greater risk. Where such services are detrimental to minors, also prove havoc on the company’s credibility. The company has to pay hefty fines if it is not compliant with the global KY regulations.
Sectors that Need an Age Verification Solution
E-Gamming Sector
With the evolution of tablets and smartphones, the gaming industry has also progressed dramatically. Where it is generating greater revenue these days has also become vulnerable to fraudulent activities. This necessitates age verification solutions to be placed in the gaming industry, particularly in the e-gambling and e-betting platforms. As betting money gives rise to anti-social behavior in the young generation, it must be tackled with stringent practices. Minor protection regulations have been introduced by the regulatory bodies to make the gaming sector a protected site for players to engage. Many platforms have also started taking investments such as shufti pro funding as recently done by the Updata partners.
Alcohol and Tobacco Store
The use of tobacco and alcohol is inhibite for minors around the globe. A report says that 2.8 million premature deaths occur yearly due to alcohol-related product consumption. Since digitization, it becomes really easy for minors to buy such products which are detrimental to their health both physically as well as mentally. Thus, alcohol and tobacco stores should deploy age verification online solutions to ensure that they are selling their goods to only those who have reached a legitimate age.
Final Thoughts
No matter whether it is a tobacco store or a gaming site, it is a moral obligation of the firms to ensure that the services or goods they are selling do not have any bad impact on minors. For this very purpose, they have to deploy robust age verification solutions. Such solutions not only provide greater protection to minors but also makes the company stay compliant with the KYC regulations.
